The supply price of all over-the-counter Tylenol (ingredient: acetaminophen) products sold at pharmacies and convenience stores will increase by about 18 percent.

According to industry watchers, Johnson & Johnson Korea sent an official letter to pharmaceutical distributors regarding a price hike for Tylenol products from March 1.

“The continuous increase in the price of raw materials and manufacturing costs in recent years has made the company increase the supply price of Tylenol products,” the company wrote in its official letter.

As a result, the supply price of Tylenol Tab. 500mg 10T, Tylenol Tab. 500mg 30T, Tylenol ER 650mg 6T, Tylenol Women’s 10T, Tylenol Cold 10T, and Tylenol Children’s Suspension 100ml will increase.

Industry watchers expect the increase in the supply price will lead to a price hike of the Tylenol products for customers who purchase the drug at pharmacies.

The price hike follows the Ministry of Health and Welfare's decision to adjust the upper limit of acetaminophen 650mg to stabilize cold medicine supply and demand in November of last year.

The ministry came to such a decision after seeing a severe shortage of cold medicines during the spread of the Omicron variant in early 2022.

According to the resolution, the upper limit of 650mg of acetaminophen will be adjusted to 70-90 won from December 2022 to November 2023, and decided to collectively set the upper limit to 70 won after December 2023.

Meanwhile, in its official letter to pharmacies, J&J also announced the supply price hike of its stop-smoking aid, Nicorette.