GlaxoSmithKline, Alcon switch 3 meds to OTC in play for big volume
Summary
GlaxoSmithKlines Voltaren Arthritis Pain gel and two Alcon eye drops, Pataday and Patanol, will now be sold over the counter after the FDA approved switching the drugs from prescription-only status on Friday. Moving into OTC sales will give the three drugs greater consumer access at a likely much lower price point, the agency said in a release. To pass muster for the switch, both GSK and Alcon were required to provide data showing that consumers could dose themselves safety and effectively, the FDA said. The drugmakers volume play will also likely lower the cost of all three medications at a time when drug pricing has become a hot-button concern for the industry, regulators and Capitol Hill. Behind drug pricing, 14% of respondents said theyre concerned about the U.S. political divide, while other threats included Amazon and biologics patent expirations.