Cosmetics Reform To Catch Ride On Next Coronavirus Relief Bill?
No one is saying that it will, but the Independent Cosmetic Manufacturers and Distributors is concerned that it might. The trade group is surveying its members and wider industry on COVID-19 challenges and future prospects in order to represent their interests in Washington and dissuade “uninformed cosmetics legislation.”
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Many questions remain following the late March enactment of the US CARES Act, which overhauls the FDA’s OTC drug regulatory framework and resets the GRASE status of long-used sunscreen drug ingredients whose safety and effectiveness have come under question at the FDA.
Market researcher The NPD Group identifies the few prestige beauty categories that posted sales growth in the US for the week ending 28 March. Companies that can pivot or ramp up activities in winning segments – and reach consumers digitally while they shelter at home – may fare best during the coronavirus pandemic.
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.