Tylenol sales up 43% for use ‘after COVID-19 vaccination'

Q1 sales of Tylenol reach ₩14.7 billion…the only acetaminophen to see an increase in sales

Most major brands see a decline in sales…base effect of COVID-19

Sales of Tylenol surged 43% YoY, compared to the same quarter of the previous year in the OTC pain medication market.

 

This is in stark contrast to the double-digit decline in sales of other pain medications.

 

Analysts believe that this increase in sales was influenced by the government’s guidance to ‘use Tylenol when experiencing side effects after COVID-19 vaccination.’ However, in the prolonged Tylenol shortage, companies with other analgesic brands have been employing aggressive marketing strategies targeting the gap, which may affect their Q2 sales and thereafter.

 

◆₩10.2 billion → ₩14.7 billion in one year… Tylenol makes new quarterly sales record According to the market research firm IQVIA, Tylenol sales recorded ₩14.7 billion in Q1 this year.

 

This is a 43% increase from the ₩10.2 billion recorded in Q1 of the previous year and a new record in its quarterly sales.

 

Analysts believe the guidance by the disease control and prevention authorities in Korea influenced the increase of Tylenol sales.

 

Since starting COVID-19 vaccinations earlier this year, authorities have directed the vaccinated subjects to ‘take Tylenol if side effects such as fever occur.’ Upon strong opposition on the use of a specific product name by relevant groups including the Korean Pharmaceutical Association, the authorities explained that they “used the product name (Tylenol) to enable better understanding for the public and the elderly, as they are more familiar with the brand name.” After the incident, the authorities have changed their wording from ‘Tylenol' to ‘acetaminophen.' Despite such modification, frontline pharmacies say that customers still keep coming for Tylenol.

 

In fact, most pharmacies voice that the Tylenol shortage has worsened after the authorities' guidance.

 

“Almost all customers who come looking for Tylenol are those that will soon be vaccinated,” a pharmacist from Daejeon said.

 

“Even when I recommend a different product with the same ingredient because have we're out of stock, 8 to 9 out of 10 people refuse to buy anything else but Tylenol.” Some analysts see this as an increased tendency of patients and consumers to prefer buying highly recognized products due to the prolonged COVID-19 pandemic.

 

An industry official said, “Tylenol has constantly made strong sales in the COVID-19 pandemic.

 

The guidance from the authorities and increased preference for known brands seem to have made a combined impact."

◆Other acetaminophen products all see a decrease in sales However, most major analgesics other than Tylenol have seen a decline in sales in the same period.

 

In particular, even other analgesics with the same acetaminophen ingredient were not able to avoid a sales decline.

 

Sales of Geworin, the second-most sold analgesic in Korea, fell 44% YoY from ₩6.6 billion in Q1 last year to ₩3.7 billion in Q1 this year.

 

Chong Kun Dang’s Penzal’s sales also fell 26% from ₩1.3 billion to ₩1 billion.

 

Sales of Dong-A Pharmaceutical's acetaminophen product, Champ Syrup, and its ibuprofen product, Champ Ibufen, fell by 53% and 59%, respectively.

 

Most ibuprofen products also saw a sales decline.

 

Sales of Daewoong Pharmaceutical's EZN6 fell 15% from ₩2 billion to ₩1.7 billion.

 

Hanmi Pharmaceutical’s Maxibupen fell nearly half from ₩1.4 billion to ₩7 billion.

 

Sales of Ahn-Gook Pharmaceutical’s Anyfen also fell 37%, and Samil Pharmaceutical’s Brufen fell 44%.

 

GC Pharma’s Taxen was the only major analgesic other than Tylenol to see an increase in sales.

 

Its sales increased 28% from ₩1.4 billion in Q1 last year to ₩1.7 billion in Q1 this year.

 

However, the sales decline of most analgesics may be due to the unusually high sales recorded in Q1 last year.

 

In Q1 last year, the spread of COVID-19 had raised public anxiety, which led to a temporary increase in sales of all household medicines including analgesics.

 

◆Domestic companies start ‘vaccine's side effect marketing… may turn around sales in Q2 Attention is focused on how the market may change after Q2.

 

With the prolonged Tylenol shortage, pharmaceutical companies with acetaminophen products have started active marketing activities targeting the use of their drugs for the ‘management of side effects after vaccination.’ Samjin Pharm and Daewoong Pharmaceutical had already strengthened relevant marketing activities, and sales of some analgesics such as Geworin Cooldown, EZN6 Ace have already started to increase gradually.

 

“Considering that the vaccination rate in Korea has not even reached 10% yet, the high demand for acetaminophen is expected to continue for a while,” an industry official said.

 

“If the Tylenol shortage continues, sales of other analgesics with the same ingredient may increase.”