GelStat makes plans to turn around business and drive sales
GelStat Corporation chief executive officer Gerald Kieft on Tuesday outlined the company’s turnaround plans in an open letter to shareholders.
“While we have encountered a number of challenges expected with any turnaround situation, we are pleased to report the core fundamentals are sound and we are more excited than ever about the company’s prospects,” he wrote.
To date, the company has re-established distribution and product availability through Drugstore.com and Amazon.com and performed a physical inventory audit Sept. 13, tablulating 942,120 boxes of GelStat Migraine four count and GelStat Migraine eight count collectively. Kieft estimated the potential revenue from the sale of this inventory would fall between $3.2 million and $10 million depending on the sales channel.
Moving forward, GelStat plans to drive direct-to-consumer sales through cost per acquisition Internet campaigns, infomercials, television, radio and print advertising and to reseed its products through wholesalers and other distribution channels into retail.
Walgreens gives customers direction on cough-cold OTC dosing for children
DEERFIELD, Ill. Walgreens has said that it will advise its customers on the proper, safe use of over-the-counter cough and cold remedies by adding in-store signage to shelves and making its pharmacists available for consultations.
After the announcement from the CHPA Tuesday that cough-cold remedies should not be administered to children under age 4, many cough-cold remedy makers are revising their product labels to reflect the new dosing recommendations before the upcoming cold season. Walgreens has made a commitment to make sure the most current labeled cough and cold remedies will be available during the label-upgrading swap, and newly labeled products will be on shelves as soon as they are available.
The FDA has issued a statement that parents should take precautions when administering cough-cold medicines to children, including, checking active ingredients on the Drug Facts product labeling, avoiding given children two products with the same active ingredients at the same time, following directions, using the appropriate measuring instruments, selecting cough-cold medicines with child-proof caps, recognizing that cough-old remedies do not shorten the length of illness but only treat symptoms, not using cough-cold products for sedation and calling a doctor or pharmacist if any adverse reactions occur after administering.
More parents confused about cough-cold treatments for kids, survey suggests
SOUTHBOROUGH, Mass. News coming out of the recent Food and Drug Administration public meeting on pediatric cough-cold medicines sold over-the-counter, as well as the recent announcement from Consumer Healthcare Products Association that manufacturers would voluntarily cease recommending use of their cough-cold products in children under the age of four, could compound pre-existing confusion among parents.
According to a survey of 606 parents (conducted by Survey.com) released by Kaz Monday, the majority of parents had already been considering not giving their children cough-cold medicine when they become sick with a cold. According to the survey, conducted six months after the FDA announced a ban of the sale of cough-cold products to children under the age of two, 70 percent of parents with children under the age of four reported they give their children cold medicine when they were sick, as do 74 percent of parents with kids under six and 80 percent of parents with children between the ages of seven and 12 old.
When asked in June if they plan to change the way they treat their children’s colds this coming season due to the January FDA warnings, more than half (64 percent) of parents who currently give their children cold medicine either plan to stop (34 percent) or are considering it (30 percent).