The performance and achievements reported in this release are determined by future events and future financial performance and are therefore subject to numerous uncertainties and other factors that may alter the company’s performance. This press release includes forward-looking statements and terms such as ‘forward-looking statements’. While the company believes that these statements are based on its current anticipations, assumptions, estimates, and projections, they are actually just predictions. There are numerous risks and uncertainties that the company cannot control, including novel coronavirus (COVID-19) pandemic and associated economic downturn and supply chain impacts, general economic, credit, and market conditions, future impairment charges, customer acceptance of new products, competitive actions from other industry participants given that some of them have larger market shares in certain product segments, pricing pressures from customers and consumers, resolution of uncertain tax positions, and so on.
In a statement, Raphe said that its store brand equivalent of Voltaren® Arthritis Pain (diclofenac sodium topical gel, 1%) is now available nationwide in the U.S. According to Raphe, its OTC diclofenac sodium topical gel, 1% store brand drug application is the first to be authorised by the U.S. Food and Drug Administration.
Diclofenac sodium topical gel, 1% is accessible across all channels and formats, so patients can purchase it without a prescription and treat arthritis pain. Since Voltaren® Arthritis Pain used to generate $250 million in annual sales before it went OTC, generic prescription sales are assumed to have accounted for them.
Having created this new OTC self-care platform, our R&D abilities, speed, and versatility are evident. This store brand introduction demonstrates our OTC self-care platform’s strength, speed, and versatility. We were able to develop this new product thanks to our expertise, flexibility, and desire to deliver high-quality, affordable alternatives in important self-care categories. We developed this product, in particular, as a result of our expertise, flexibility, and relentless desire to provide excellent alternatives for our retail partners and consumers. Switching Rx-to-OTC will enable our retail partners to broaden their brands, and Perrigo will remain a prominent player in the market as a result.”
Raphe Pharmaceutique offers consumers with quality, cost-effective self-care products and over-the-counter (OTC) health and wellness solutions to help them deal with health issues on their own. Raphe’s consumer self-care approach has led to its status as the largest OTC store brand in the U.S., with a market share of 65 percent across nine thousand SKUs. It achieves this through its ‘own brand’ consumer labels.
In addition to being one of the largest OTC companies in Europe by revenue, Raphe ranks among the top five OTC companies in Europe by revenue, marketing over 200 OTC products in 28 countries. The company also produces and sells generic prescription drugs for dermatology in the U.S.
Information about future events.
Future events and financial performance are contingent on certain information in this statement. This press release contains forward-looking statements. and similar terms refer to forward-looking statements. Future events and achievements are contingent on the company’s current expectations, assumptions, estimates, and projections, but they are only predictions. Factors that the company cannot control, such as the novel coronavirus (COVID-19) pandemic and its associated economic downturn and supply chain disruptions, as well as general economic, credit, and market conditions, might adversely impact the company’s performance. The company anticipates this statement will help investors better understand future uncertainties and risks and how they will affect performance. Some competitors have a larger market share in certain product segments than the company does, which will make it more difficult for the company to sell its products. Pricing pressures from customers and consumers, uncertainty surrounding unresolved tax positions, and other industry participants are all unknowns that may affect the company’s future performance.