Prevacid 24HR gains share
This article was originally published in The Tan Sheet
Executive Summary
Novartis claims Prevacid 24HR has about 30 percent of the overall OTC proton pump inhibitor market, based on recent weekly sales data. The figure likely indicates that sales of the lansoprazole product, launched in November 2009, are approaching those of Procter & Gamble's Prilosec OTC (omeprazole); however, a P&G spokesman said Prilosec OTC "is still the number one branded OTC PPI." Basel, Switzerland-based Novartis reported a 13.4 percent jump in Consumer Health net sales during its 2010 first quarter to $1.48 billion. A weak cough and cold season offset strong performances of OTC pain medicines, such as Excedrin, the firm said April 21. Total net sales in the January-March period grew 24.9 percent to $12.13 billion. Novartis continues its quest to acquire Alcon, despite the opposition of Alcon's directors, and expects to reach an agreement to buy the eye care firm in the second half of 2010 (1"The Tan Sheet" Feb. 15, 2010)