CRN: VMS industry contributes $121.6 billion to U.S. economy
WASHINGTON — More than two-thirds of American adults take dietary supplements each year, and according to a new economic impact report released by the Council for Responsible Nutrtion on Wednesday, the dietary supplement industry contributes $121.6 billion to the U.S. economy, creates 754,645 jobs nationwide, and pays $38.4 billion in wages.
Additionally, the industry contributes nearly $15 billion in business taxes — both federal and state — and not including taxes collected on product sales.
The economic impact report was produced by John Dunham and Associates for CRN. The results are accessible on a public website and provide data on a national basis, as well as state-by-state and by congressional district.
“The dietary supplement industry is a robust industry, and this new economic analysis further demonstrates the important and positive impact our industry has on people’s lives," stated Steve Mister, CRN president and CEO. "We’re releasing this report today in conjunction with our annual fly-in on Capitol Hill, where more than 60 dietary supplement industry executives from 40 companies will share this information with elected officials. We urge all companies in the industry to do the same on national, state and local levels.”
The statistics are based on the total overall economic impact from the industry, which combines direct contributions (those that are solely attributable to the dietary supplement industry), indirect contributions (those that result from dietary supplement industry firms purchasing goods and services from other industries) and induced effects (which economists refer to as the multiplier effect of an activity — in this case, resulting from the dietary supplement industry).
“With the completion of this new report, CRN can demonstrate a trifecta of data about dietary supplements and the people who take them," Mister added. "Here’s what we know: more than 150 million Americans take dietary supplements for the health benefits they provide; supplements offer tremendous potential for societal health care cost savings; and the industry makes vital contributions to the economy at large," he said. "What’s good for your health is also very good for America’s wallet.”
HRG to moderate front-end focused session at HDMA BLC
WAUKESHA, Wis. – Hamacher Resource Group will serve as moderator of the session, “Ask the Distributors – How to Fuel the Front-end,” on June 13 at the Front-end Forum, part of the Healthcare Distribution Management Association Business and Leadership Conference at the Broadmoor Resort in Colorado Springs, Colo., the company announced Tuesday.
Dave Wendland, VP strategic relations and member of the owners group at HRG, will moderate a panel of executives from AmericsourceBergen, Cardinal Health, Smith Drug Company, Div. J M Smith Corporation and McKesson.
HRG, a silver sponsor of the Front-end Forum this year, has been an active participant in the Forum since its inception. “We value our relationship with HDMA and remain encouraged by the association’s continued commitment to the drug store front-end," Wendland said. "I'm looking forward to moderating this dynamic discussion about the front-of-store, and believe attendees will walk away with great insights and ideas.”
Industry making headway in reducing unintentional APAP overdose
WASHINGTON – Progress is being made to increase awareness of the safe use of acetaminophen, according to new research released Monday by the Acetaminophen Awareness Coalition. The group says data collected from the National Poison Data System and released in late 2015 show a steady decline in unintentional exposures of acetaminophen, including dosing errors and accidental misuse, since a peak in 2009.
"As a member of the AAC, it is encouraging and gratifying to see these results, but we know more work is needed to help ensure people take their medicines safely," stated Colleen Creighton, director of the Consumer Healthcare Products Association Educational Foundation, a founding member of the coalition. "While consumer knowledge is increasing and poison center calls are going down, there are still thousands of calls being made every year regarding unintentional acetaminophen overdose. Our coalition remains committed to working together to educate consumers."
The AAC founded the Know Your Dose campaign in 2011 to educate consumers about acetaminophen safe use. Found in more than 600 over-the-counter and prescription medicines that are consumed by as many as 50 million Americans on a weekly basis, it is safe and effective when used as directed, but there is a limit to how much you can take in one day. Taking more acetaminophen than directed is an overdose and can lead to liver damage.
For the past five years, Know Your Dose has raised awareness of acetaminophen as a drug ingredient, armed healthcare providers with free educational materials for their patients, and encouraged consumers to follow four key safe use steps, including:
- Always read and follow the label;
- Know if your medicines contain acetaminophen;
- Take only one medicine at a time that contains acetaminophen; and
- Ask your healthcare provider if you have questions about dosing instructions or medicines that contain acetaminophen.
Creighton noted that, according to a nationwide survey of 1,000 U.S. adult pain medicine users conducted by CHPA, consumer knowledge about how to use acetaminophen safely and awareness of its risks are at record highs. The survey shows that the number of consumers who understand that exceeding the recommended daily dose of acetaminophen may lead to liver damage has increased from 78% in 2010 to 87% in 2013, and the number of consumers who think it is important to check the medicine label for the maximum daily dose increased from 93% in 2010 to 98% in 2013.
The upward trend in consumer awareness and the downward trend in unintentional overdose are positive signs that educational efforts on the parts of numerous stakeholders — healthcare providers, patient organizations, manufacturers and the U.S. Food and Drug Administration — are contributing to better understanding and safer use of acetaminophen.
"The educational efforts of the last five years are having an impact, and it's exciting to see the results of a shared mission across many groups," said John Whyte, director of FDA's Professional Affairs and Stakeholder Engagement in its Center for Drug Evaluation and Research. "Acetaminophen is widely used and it's extremely important that we educate patients and consumers about how to take it safely."
Acetaminophen Awareness Coalition members include the Alliance for Aging Research, American Association of Nurse Practitioners, American Pharmacists Association, Caregiver Action Network, CHPA Educational Foundation, National Association of Boards of Pharmacy, National Association of Chain Drug Stores Foundation, National Community Pharmacists Association, National Consumers League and National Council on Patient Information and Education.
Advisors to the Coalition include the American Academy of Pediatrics, Centers for Disease Control and Prevention and U.S. Food and Drug Administration.
Loading Post Please Wait...