"Open Innovation" was the theme of the keynote address at the annual Regulatory and Scientific Conference of the Consumer Healthcare Products Assn. , held May 7 - 8 in National Harbor, MD.
Open innovation is getting away from internalized and closed development (the Not Invented Here syndrome) to forming strategic alliances with another company to launch a new product that neither company could do on its own.
Gene Slowinski, PhD., Rutgers University, told 100 or so regulatory officials from the major over-the-counter product companies, and more than 40 members of the Food and Drug Administration that their competition is not even in the room.
He said that Unilever, Coca Cola, and Pepsico are all committed to bringing health claims to functional foods and beverages and these will be the major competition for OTC drug companies in the next decade. Cosmetics and other health/beauty products are already doing it, taking suntan lotion market share by adding SPF to products such as makeup.
Coke has an alliance with the biggest herbal institute in China.
Pepsico's upper management contains more former pharmaceutical executives than ever before. These companies, known for bringing us unhealthy soft drinks, are changing their tune, said Slowinski.
Auxilliary devices, or what the consumer needs to take your
medicine, and delivery systems will dominate future innovation.
Packaging,labeling, and regulatory requirements remain key to the OTC experience.
Slowinski cited iPod and the iPhone as supreme examples of innovative technology that was born from strategic alliances.
He challenged the audience to think about developing an iPhone app that would make it easier for your consumers to take their OTC drugs!
The Consumer Healthcare Products Assn. is a member-based association representing the leading manufacturers and distributors of nonprescription, OTC medicines and nutritional supplements.
-By Jim Chrzan, Publisher
