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Rx-To-OTC Switching Strategies: Lifecycle Management and Building Brand Equity in the US, EU and ROW
Business Insights, Oct 2005
Rx-to-OTC switching is defined as transferring prescription medicines to non- prescription OTC (over the counter) status, providing consumers with easy access to safe and effective products, in some cases without the assistance of a healthcare professional.
The OTC therapeutic categories with highest US sales in 2004 were cough, cold, influenza and sore throat, analgesics for internal use, and indigestion remedies. 38% of pharmaceutical executive survey respondents predict OTC product sales to grow between 6 and 10% in the next year, 36% predicted 3 to 5% growth, while 13% predicted at least 11% growth.
Rx-to-OTC switching in major markets increases in the cost of healthcare, medicines reimbursement and population have driven a trend towards self-medication. The increasing cost of Rx (prescription) medicines to payer groups (health insurers and governments) has resulted in payer groups encouraging self-medication with OTC products. Future growth in the OTC market will also be driven by the increasing number of retailers looking to sell their own 'private-label' OTC products in order to obtain high retail margins. Consumer demands for easy access, low cost, effective products and their increasing knowledge of medicines are important drivers of future OTC switching activity.
About the Author
Simon Hester is a Pharmaceutical Business Intelligence Consultant based in the East Midlands of England. In addition, he recently compiled the UK, Republic of Ireland, Netherlands and Estonia sections of a European Guide to Pharmaceutical Pricing and Reimbursement for major pharmaceutical industry clients. Simon previously compiled competitive intelligence reports on the marketing of prescription Antihistamines and Oral Anti-Diabetic medicines to UK doctors for major pharmaceutical industry clients.
He has also carried out business intelligence research on the global, strategic, commercial, and R&D activities of the 20 leading Over-The-Counter (OTC) and nutraceutical companies and market research on European healthcare purchasing strategies; scientific assessment of Product Labels and Patient Information Leaflets for the Medicines Control Agency.
Simon graduated from The University of Liverpool, UK, with an MPhil research degree in Cardiac Muscle Physiology in 1994, and a BSc Upper Second Class Honors degree in Physiology, with significant study of Pharmacology and Biochemistry, from King's College London, University of London, UK, in 1990.
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