Perrigo Campaigns For Rational OTC Shopping Over Brand Loyalty
This article was originally published in The Tan Sheet
The online “Store Brand Meds” campaign launched by Perrigo in early 2013 encourages consumers to “Make store brands your brand,” by emphasizing lower price points and equivalent active ingredients. Overcoming consumer connections to brands such as Tylenol is a challenge, however.
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The domestic OTC/nutritionals business grew more than 14% in the first quarter on the strength of McNeil products returning to market and a severe cold and flu season. Johnson & Johnson’s consumer performance exceeded some market analyst estimates.
Perrigo’s consumer business’ 2012 full-year operating income, after GAAP adjustments, increased only 0.8% to $304.96 million, despite the division’s 8% revenue growth to $131 million for the fiscal year. The firm plans to launch more than 60 new products in fiscal 2013.
Perrigo delivered record first-quarter revenue but fell short of analyst expectations due to slowing growth in its consumer health care and nutritional units.