Medicine makers cash in as wave of cold and flu sweeps country
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Over-the-counter drugmakers are cashing in as a wave of cold and flu sweeps the country
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The high demand for cold and flu medicines is driving sales among consumer healthcare giants.
Sales of over-the-counter drugs are soaring at companies like Haleon and Reckitt Benckiser as the country is gripped by winter sickness.
The demand for some medicines is so great that pharmacies are faced with stock shortages.
Sales of over-the-counter drugs soar at companies like Haleon and Reckitt Benckiser as the country is gripped by winter sickness
“We’ve seen a strong and sustained cold and flu season this year,” said Tobias Hestler, chief financial officer of Haleon, which spun out of pharmaceutical group GSK last year and produces cold medicine Theraflu and nasal decongestants Otrivin and Contac.
Reckitt, which makes Lemsip, Mucinex, and Strepsils, has also seen booming demand.
Ryan Dullea, head of the over-the-counter business, said the pandemic has “made consumers more aware of germs and disease.”
More than 3,700 patients a day were hospitalized with flu in the last week of December — an increase of nearly 80 percent in seven days.
Medical experts say more social mixing has sparked a resurgence in flu viruses after the brief hiatus brought about by pandemic-era restrictions.
Rising cases of Covid-19, which has flu-like symptoms, is also driving demand for over-the-counter cures.
More than 36,000 people in the UK tested positive for Covid-19 in the week before Christmas.
Vaccinations have mellowed the symptoms and households are turning to traditional cold and flu medicines to deal with it.