Lipitor Faces Tough Competition From Generic Versions
In a recent report, it has been made clear that the sales of cholesterol blockbuster Lipitor have tumbled down by 50% in a single week as the market is flooded with new prescriptions for generic Lipitor. Though stern efforts were made by Lipitor maker Pfizer to ensure that patients stray with their pull, it was observed that majority of the patients had switched their preference.
It has been known that the makers had lost patent protection on November 30 in the U. S, after which there were many generic versions making way in the market. It was said that after the decision, India's Ranbaxy Laboratories along with Pfizer released generic version in the market thereby ensuring that there is going to be tough competition to the makers of Lipitor in the coming time.
There was significant attention given to this case across the industry as it was found that there have been many cases where generic drugs pose serious competition to accrual drug makers, thereby imposing escalated loss of revenue over the coming few years. It has been made clear from the data firm IMS Health on prescriptions for Lipitor and other drugs which could lower LDL or bad cholesterol, that there is significant decrease in number of drugs to 359,235 in the seven days ended December 9, as compared to 724,799 Lipitor prescriptions filled a month earlier.
In response to the news, shares of Lipitor moved down to 9.7% from 20.7% over that period. However, there has been report that owing to a new Crestor ad campaign, Crestor from Britain's AstraZeneca PLC had been able to retain market share of 12.3%.
There has been rise in the number of prescriptions filled from November 11 to December 9 of generic versions of three older statins - Zocor, Pravachol and Mevacor, as compare to Lipitor and Crestor.