J&J Shines Spotlight On U.S. OTC Sales Growth
This article was originally published in The Tan Sheet
Domestic OTC sales grow nearly 20% to $644 million as J&J remains on track to return 75% of recalled McNeil products to market. Consumer business head Sandra Peterson says the firm began breaking out OTC sales figures to single out how the business is doing.
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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.
Johnson & Johnson CEO Alex Gorsky says bringing recalled OTCs such as Tylenol and Motrin products back to market is the firm’s “clear number one priority” in the near term. J&J also has a timetable for completing its responsibilities under a consent decree with FDA in place since 2011.
Worldwide consumer health sales in January-March period were down 3.3% to $3.5bn with results off 7.4% to $1.6bn in the US and up 0.5% to $1.9bn internationally. However, excluding “COVID-19 comparison” in the year-ago period, the consumer health segment grew low-single-digits.