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OTC Drug and Dietary Supplement Market Size & Growth Analysis Report, Trends Analysis 2021-2027
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OTC Drug and Dietary Supplement Market Size & Growth Analysis Report, Trends Analysis 2021-2027
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Ecommerce improvements help Nature’s Sunshine to best quarter in company history Riding a great year for the dietary supplement industry and for multi level marketing companies in general Nature’s Sunshine notched its best quarter ever as it reported its 2020 year end final results.
Nature’s Sunshine CEO Terrence Morehead attributed the company’s strong performance to a transformation of the company’s ecommerce platforms which was completed in the second and third quarters. With it, the company rolled out a new auto ship program that has proven popular with consumers.
Digital transformation
“After just a few months, Subscribe and Thrive already represents about 25% of our monthly orders, and we continue to see steady growth in the number of people join the program each month,” Morehead said during an earnings call with stock analysts. A transcript of the call was posted on the site seekingalpha.com.
Confidence USA ordered to close after decade of inspection failures
©Getty Images - serggn Confidence USA Inc, a dietary supplement manufacturer, has been ordered to close after a history of alleged non-compliance with cGMP regulations that extends over a decade.
Late last week, Judge Edward R. Korman of the US District Court for the Eastern District of New York entered an order of permanent injunction at the behest of the US Food and Drug Administration against the Long Island, NY-based company, its president Helen Chian and general manager and founder Jim Chao. The permanent injunction requires the defendants to cease manufacturing, holding, or distributing dietary supplements until they comply with FDA stipulations. While it’s possible to return to operations after such an injunction, few companies have done so.
FTC action on ‘Made in USA’ claims signals heightened risk for industry, attorney says A recent FTC action that hinged on a ‘Made in USA’ claim serves notice that such claims will be under greater scrutiny during the Biden Administration, an attorney says.
The final action, announced by the US Federal Trade Commission last week, was taken against Chemence, Inc., a maker of fast acting superglues sold under store brand names. The initial settlement was announced in late 2020 and calls for the company and its principal, James Cooke, to
pay a $1.2 million fine. The hefty fine came as a result of the firm having violated a previous order dating back to 2018 and Cooke having allegedly perjured himself in 2017 by claiming to have changed the claims to include clarification that the materials in the products were imported.
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