More than $10 billion potential seen in next five years in Rx-to-OTC switches Download PDF
May 15, 2015
The Rx-to-OTC switch area is heating up and the market will continue to witness growth in the coming years. As quoted in the Drug Store News, Joseph Papa, Perrigo chairman, CEO and president, believes that “Rx-to-OTC switches are expected to continue, with more than $10 billion in branded prescription sales likely to switch in the next five years.” Rx-to-OTC switches are returning market share and revenues to innovators based on existing consumer brand loyalty. Additionally, switches are providing consumers with affordable treatment options. This has led the industry to explore growth opportunities such as Rx-to-OTC switches. Other factors in switch popularity are the FDA’s consideration of ways that can make the transition of drugs from prescription to over-the-counter (OTC) status safer and easier. Several new therapeutic areas are also being explored for switching by the pharmaceutical companies facing patent expirations for their prescription drugs, due to the recent switches approved by the FDA.
For more information: Rx-to-OTC Switch Report