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Article: Claritin to Be Sold Over-the-Counter
- Article from:
- AP Online
- Article date:
- March 8, 2002
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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Dateline: NEW YORK
Schering-Plough Corp. announced plans Friday to switch its blockbuster
allergy prescription medicine Claritin to an over-the-counter drug,
caving in to regulatory and competitive pressures.
The switch means the company's top selling drug will see its sales
shrivel, and marketing Claritin's recently introduced successor will
be more challenging. Schering-Plough's stock fell more than 5 percent
on the news.
Last year, Claritin had worldwide sales of $3.1 billion but analysts
said that could sink to $400 million next year if the switch is approved
as expected. Over-the-counter drugs can cost as much as 50 percent
less than prescription medicines.
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