I don't agree that baby medicine is a good gift. What if the parents or grandparents just start dosing the baby without prior medical advice?
Hydrogen peroxide is too strong to apply to a baby's skin. Most medical professionals now advise against it--it does more harm than good. Antibiotic ointments are also questionable. Hard to imagine needing Band-aids for a baby. They don't cut their fingers or skin their knees. Toddlers start to need them, but that's a long way off.
Parents should follow the advice of their pediatricians and should buy their own supplies.