Packaged Facts: Pet med market to reach $10 billion by 2018
ROCKVILLE, Md. — U.S. retail sales of pet medications reached $8 billion in 2013, including sales through veterinarians, brick-and-mortar retailers and online according to a Packaged Facts report released Wednesday. This figure reflects a 2% increase over 2012 sales and a compound annual growth rate of 7% during the 2009-2013 period.
Growth in the overall pet medication category is attributable to the strength of several new product introductions, the return of Novartis products to the market (following the closure in 2012 of its Lincoln, Neb. plant), as well as continued strength of non-flea and tick drugs in the veterinary channel. By animal type, dogs accounted for the lion’s share of pet medication sales, at 77%, with cats representing the remainder.
Most marketers of pet medications in the U.S. slot into two groups: global pharmaceutical companies operating through animal health divisions and selling mainly through the veterinary channel, such as Merial; and pet product marketers selling through retail channels, including broad-line marketers like Central Garden & Pet and smaller companies focusing on over-the-counter pet health products. With the recent and ongoing cross-over into retail of formerly vet-only brands like Bayer’s Advantage and K9 Advantix, the pharmaceutical/veterinary vs. pet product/retail distinction is blurring, however. For many companies, antiparasitics are a key part of the pet medications portfolio, with flea-tick products representing their best-known consumer brands.
Looking to the future, Packaged Facts projects that pet medications sales will experience healthy returns through 2018. The market will grow from its 2013 level to more than $10 billion in 2018, reflecting a CAGR of 5%. As always, the biggest wildcard will be the weather for flea and tick sales. But as new products emerge in the coming years, the industry should be poised for healthy growth, noted Packaged Facts research director David Sprinkle.
First Aid Shot Therapy launches upset stomach remedy in shot format
SEATTLE — First Aid Shot Therapy on Wednesday announced the launch of First Aid Shot Therapy Upset Stomach. Upset Stomach is the second variant to be launched in the F.A.S.T. range of products and it is formulated to relieve upset stomach symptoms.
F.A.S.T. Upset Stomach Relief, contains calcium carbonate, an antacid that works by directly neutralizing stomach acid. To ensure a great-tasting formula, F.A.S.T. is formulated with natural peppermint and ginger flavors along with a hint of chocolate for smoothness. Upset Stomach helps relieve heartburn, sour stomach, acid indigestion and upset stomach associated with these symptoms that may be caused by stomach acid. Each 1.15 fl. oz. (34 ml) bottle is a single dose, and may be taken every 3-4 hours if symptoms persist.
“Feeling sick never comes at the right time; it’s usually while you’re least expecting it, not when you’re standing in front of your medicine cabinet,” stated Mary Page Platerink, CEO First Aid Shot Therapy. “With F.A.S.T. we’re able to provide people with a quick, simple, no-mess, single-dose of relief that allows them to manage their health in a convenient and innovative way.”
Earlier this year, First Aid Shot Therapy launched First Aid Shot Therapy Pain Relief. A single-dose, over the counter liquid shot that relieves pain. F.A.S.T. Pain Relief contains choline salicylate and caffeine.
Rite Aid realizes 0.4% March gain with sales of $1.9 billion
CAMP HILL, Pa. — Rite Aid on Thursday posted $1.9 billion in sales for the four weeks ended March 29, up 0.4%.
Same-store sales increased 0.7% over the prior-year period. March front-end same store sales decreased 5%, with 4.1% of the decrease attributable to a shift in the timing of Easter, which falls on April 20 this year compared to March 31 last year.
Pharmacy same-store sales, which included an approximate 133 basis points negative impact from new generic introductions, increased 3.5%. Prescription count at comparable stores increased 1.1% over the prior-year period.
Prescription sales accounted for 69.4% of drug store sales, and third party prescription sales represented 97.4% of pharmacy sales.