Perrigo Has Approval For Copy Of OTC Voltaren Arthritis Relief Before GSK Launches The Brand
Perrigo will launch generics of GSK's OTC Voltaren Arthritis Pain drug later in 2020 following FDA approval of its ANDA. GSK, which received FDA's OTC switch approval in February, still hasn't launched the product or indicated when it will.
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"With all the positive things, I'd normally be raising guidance right now," says CEO Murray Kessler as Perrigo reports first-quarter results. But manufacturing operations aren't normal, and neither is the consumer health product marketplace.
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.
It’s unlikely any industry stakeholder or FDA official expected a bill providing emergency economic relief to consumers, industries and health care services and facilities in response to a pandemic, including extensive support opportunities for small businesses, would be the vehicle that delivers on both of the industry’s congressional wishes. The supplement industry also looks for help in CARES Act.