NEW YORK — A provision in the Coronavirus Aid, Relief and Economic Security (CARES) Act, which Congress passed and President Trump signed into law in March, offers a potential boon to consumers and retailers, according to GlaxoSmithKline (GSK), which is one of the largest providers of over-the-counter medications in the world. The provision in the
WASHINGTON— Consumer Healthcare Products Association (CHPA) president and CEO, Scott Melville, issued the following statement upon final passage of the CARES Act, which among its many sections includes provisions to update and modernize the regulatory system overseeing most over-the-counter (O-T-C) medicines and to restore O-T-C eligibility under tax-preferred HSA and FSA accounts. “During this unprecedented
It is seldom that a trend benefits all key players in a given market, but the proliferation of self-care and the growth of the over-the-counter medication market is one of those trends. Drug retailers, consumers and the U.S. health care system at large have all benefited from the retail availability of nonprescription remedies. And the
WARREN, N.J. — GlaxoSmithKline said Thursday that it has closed a previously announced joint venture deal with Pfizer Inc. that will combine their respective consumer healthcare businesses. The move will create the world’s largest supplier of over-the-counter medications. The joint venture company will operate as GSK Consumer Healthcare. Pfizer owns a 32% equity stake in
WASHINGTON — Over-the-counter (O-T-C) medicines save the U.S. health care system nearly $146 billion a year, a new study has found. The report, “Value of O-T-C Medicines to the U.S. Healthcare System,” which was released by the Consumer Healthcare Products Association (CHPA), found that, on average, each dollar spent on O-T-Cs saves the national system
