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Article | February 6, 2010
Growth in Rx-to-OTC switches
Increased sales opportunities and expiring patents on prescription-only products are two of the drivers behind manufacturers switching from selling their products as prescription or Rx-only to over-the-counter offerings.
Matt Wolf, Contract Pharmacal Corp.’s CEO reports, “Rx-to-OTC switches have fueled tremendous growth in the category, with products such as Ibuprofen, Loratadine, Cetirizine, and Omeprazole. In fact, industry forecasts call for nearly $10 billion in potential switches over the next five years, in branded sales. Science has generated an entire class of products that are safe and effective—and easily purchased without a prescription in any pharmacy.
“There are many factors driving the growth of the OTC segment, including the aging population and the growing national trend of self-medication. Dietary supplements also play a significant role in the space, as more and more scientific evidence demonstrates their health benefits.”
The increase in Rx-to-OTC switches increases the role of package design. Says Wolf, “Packaging is one of the cornerstones of our business. Over the past several years, CPC has been assisting its customers in pharmaceuticals, OTC drugs, and dietary supplements by providing design, development, manufacturing, and packaging services for many of the world’s top brands.
“As a fully integrated manufacturer, we work closely with our customers to develop innovative products. We provide packaging services that include a dedicated, in-house graphic design team to design labels and cartons, working with our customers to create packaging that showcases their brands and attracts consumers, while adhering to regulatory guidelines.”
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