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Latest From Lauren Nardella
Leadership assured analysts on 6 November that Coty's Professional Beauty and Brazilian businesses are strong performers of high interest to potential acquirers, unlike Younique. Coty recently sold its majority stake in the social selling company back to its founders at a price that raised eyebrows.
The US FDA’s deferral of final GRASE rulemaking on UV filters identified in its February proposed rule as lacking data hinges on its acceptance of industry’s work plan. In October, the agency expressed concerns about the plan submitted by the Personal Care Products Council, but granted the group’s request for a meeting – slated for 13 November – to discuss the issues further.
A National Toxicology Program rat study linking oxybenzone to “equivocal evidence of carcinogenic activity” is far from damning, but it's a reminder of just how steep a mountain industry may have to climb to maintain the UV filter’s generally recognized as safe and effective (GRASE) status for OTC marketability, currently under FDA review.
Florida's legislature does not reconvene until mid-January 2020, but interim committee meetings are in progress and a proposed bill to ban non-prescription sales of oxybenzone/octinoxate-containing sunscreens already has been filed for consideration in the next session.
Essential oils no longer on list of products slated for EU tariff increases effective 18 October, a win for US fragrance industry facing uncertainty in tumultuous global trade climate. Fragrancy industry, like dietary supplement manufacturers, still face higher tariffs on imports from China as next round of hikes is scheduled to start 15 October.
The Safe Cosmetics and Personal Care Products Act, reintroduced in the US House, exceeds the proposed Personal Care Products Safety Act in the Senate in terms of the duties and resource demands it would impose on companies and the FDA, while leaving states free to regulate cosmetics even more stringently. The proposal now must vie for the attention of the Energy and Commerce Committee.