About Joseph McGovern
Joseph McGovern is an accomplished pharmaceutical executive with extensive experience in strategic management of global health care businesses, including portfolio management, product launches, Rx-to-OTC switches, and acquiring new products through business development. Deep experience at both Pfizer Inc. and GlaxoSmithKline PLC has contributed to his extensive knowledge base of global strategic marketing and development. With U.S., European and Asian health care market expertise, Joe is skilled at creating roles and structure to exploit new business opportunities and is expert at leading high-performing, cross-functional teams in complex, multi-national partnership settings. Joe holds a degree in Economics from the University of London, London, England.
A potentially devastating competitor is taking a leading share in several US OTC categories. It’s not a brand. You won’t see it on the shelf; you may only see its impact in market decline. You will be dismayed to see its share, its double-digit growth and its private label anonymity. It is the doctor-prescribed OTC.
OTCs are sold like any other consumer brands and successful marketing of OTCs relies on building brand equity. Most of the major OTC brands built their equity as prescription medicines with a significant history of doctor endorsement and prescription use. So medicines are consumer brands where serious consideration has to be given to selection and use.
It would be very surprising if the consumer’s decision was made only on price, and it is not. A survey by the Association of the European Self-Medication Industry (AESGP) of US consumers found that such considerations as: “I know it, it works, I have confidence in it and it is safe,” come far above price as a purchase consideration.
The OTC industry needs a broader view of consumer communication media. There are so many new ways to connect with consumers that are more targeted and better linked to educational support and professional endorsement.
People want to take care of themselves, they don’t want to be ill and they don’t want to be seeking professional help all the time. They like and read information about health, they like having Rx-to-OTC switches so we must preserve that we must not interfere with it.
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