Access To Infant Nutrition Improves; Generic Infant Formula Debuts At
American Academy of Pediatrics Conference
WASHINGTON, Oct. 9 /PRNewswire/ -- There is no argument that breast milk
provides the best nutrition for babies. But for families who must make
another choice, the cost of expensive formula has just been reduced by up to
half.
"All traditional formulas offer virtually identical nutrition that allow
babies to grow and thrive -- it's guaranteed by law and ensured by the FDA,"
says PBM Products, Inc. President and CEO, Paul Manning. "Now, for the first
time, pediatricians have a viable alternative to expensive name brands when
recommending formula for their patients."
Manning made his remarks from the American Academy of Pediatrics annual
conference in Washington, D.C., where store brand and private label formulas,
sometimes called "generics," are being formally introduced to pediatricians
for the first time.
Reacting to the Sept. 26, 1999 "Formula Fight: Generic Vs. The Giants"
article in The New York Times, Manning said it accurately reports that the
U.S. Food and Drug Administration requires that all formulas, including store
brand and private label formulas, meet the same rigid nutritional
requirements and contain virtually identical ingredients. The article also
reports that generics represent substantial savings for new parents.
Manning says that store brand infant formula can be purchased for up to 50
percent less than the leading brands, Enfamil(R) and Similac(R). That
translates to savings of $3 to $10 per can, depending on the size, or up to
$500 a year. Average spending on baby's first year ranges from $1,500 to
$2,500, meaning families can reduce that cost by a whopping 20 to 30 percent.
The New York Times report quotes several sources who say that profit margins
on formula appear excessive in relation to production costs.
Manning says store brand prices are lower because of low administrative and
marketing costs, not savings on research and development costs as claimed by
the name brands. "PBM Products simply doesn't have hundreds of sales people
visiting pediatricians and mailing millions of dollars worth of samples to
expectant mothers," he said. "We pass along those savings to parents."
Manning said that PBM is committed to informing pediatricians about the new
store brand and private label formulas through conferences, correspondence
and informational advertising in pediatric trade publications.
According to government surveys, more than 60 percent of American babies
receive formula, at least some of the time, by the age of three months. The
new formulas are easily available to families at the nation's largest
retailers and grocers, including Wal-Mart(R), Target(R), Safeway(R),
Kroger(R), Food Lion(R), Albertson's(R) and others.
Store brand and private label formulas are distributed by PBM and
manufactured by Wyeth Nutritionals, Inc. They are the only powdered baby
formulas produced in the United States in an independent ISO-9001 quality
certified facility.
SOURCE PBM Products
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