Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Pfizer Maneuvers to Protect Lipitor from Generics

Published: Tuesday, December 06, 2011
Last Updated: Tuesday, December 06, 2011
Bookmark and Share
Lipitor is so valuable that Pfizer is practically paying people to keep taking its blockbuster cholesterol medicine after generic competition hit the U.S. market last week.

Pfizer has devised discounts and incentives for patients, insurers and companies that process prescriptions that will, at least for the next six months, make the brand name drug about as cheap as or cheaper than the generics. Pfizer also has spent tens of millions of dollars this year on marketing to keep patients on Lipitor, which lost patent protection Wednesday.

Normally when a drug's patent ends, generic rivals grab nearly all its market share in a year or less, and the original maker quietly shifts focus to its newer products.

Pfizer Inc., the world's biggest drugmaker, is not giving up that easy on the best-selling drug in history. Lipitor had peak sales of about $13 billion and still brings in nearly $11 billion a year, about a sixth of Pfizer's revenue. With no new blockbusters to fill that hole, the company is making an unprecedented push to hang onto Lipitor revenue as long as possible.
Patients seem to buy into the logic.

"If I can get the name brand at the same price or for pennies more than the generic, I have no motivation to switch," said Richard Shiekman, 59, who has been taking Lipitor for six years and credits the drug with sharply cutting his bad cholesterol. Shiekman, a wine and spirits importer from Redding, Conn., got a $4 copay card two weeks ago after his pharmacy sent an offer guaranteeing that price through December 2012.

Pfizer's strategy is cunning and could become the new norm, as most other drugmakers also face generic competition to top-selling medicines and haven't been coming up with replacements.

"People getting a month of lifesaving medicine for the price of a cup of Starbucks is ... pretty impressive," said Michael Kleinrock, a research director at data firm IMS Health.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More Than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Pfizer Announces Expansion of Lease Agreement with MIT Subsidiary
Consolidation of Cambridge research centers creates a single Pfizer Cambridge campus to help expedite discovery and development efforts and encourage creative collaboration.
Friday, July 24, 2015
Pfizer CTI, Foundation Launch Collaboration
Pfizer’s Centers for Therapeutic Innovation (CTI) and the Jeffrey Modell Foundation (JMF) have agreed to collaborate intended to advance research into immunological diseases.
Thursday, July 09, 2015
Pfizer Inaugurates Center of Excellence in Precision Medicine with Strong Focus on Genomics
Work conducted at center to revolutionize diagnosis and treatment of cancer globally.
Thursday, July 09, 2015
Pfizer Enters into Agreement with GlaxoSmithKline
Agreement with GSK to acquire Nimenrix and Mencevax vaccines.
Thursday, June 25, 2015
Pfizer Acquires Minority Interest in AM-Pharma
Option to acquire company may be exercised based on Phase II trial results for recombinant human Alkaline Phosphatase.
Tuesday, May 12, 2015
Merck and Pfizer Finalize Agreement to Co-Promote XALKORI®
Co-promotion of XALKORI allows the alliance between Merck KGaA, Darmstadt, Germany, and Pfizer to establish a combined oncology sales organization in key markets for the program.
Thursday, April 09, 2015
Pfizer to Acquire Hospira for $17B
Companies have into a definitive merger agreement under which Pfizer will acquire Hospira for $90 a share in cash for a total enterprise value of approximately $17 billion.
Thursday, February 05, 2015
Pfizer Acquires Redvax
Acquisition provides Pfizer with a preclinical CMV vaccine candidate.
Thursday, January 08, 2015
Pfizer Expands Rare Disease Research with Establishment of Gene Therapy Platform
Signs collaboration with Spark Therapeutics to advance phase 1/2 Adeno-associated virus (AAV) vector program in hemophilia B.
Friday, December 12, 2014
Pfizer, Merck to Evaluate Novel Anti-Cancer Combination Regimen
This multi-center, open-label clinical study will be conducted by Pfizer and is expected to begin in 2015.
Wednesday, August 27, 2014
Pfizer to Acquire InnoPharma
Under the terms of the agreement, Pfizer will acquire InnoPharma for an upfront cash payment of $225 million, with up to $135 million of contingent milestone payments.
Wednesday, July 16, 2014
Pfizer Confirms Interest in AstraZeneca
Pfizer submitted a preliminary, non-binding indication of interest to the board of directors of AZ in January 2014 regarding a possible merger transaction.
Monday, April 28, 2014
Pfizer Announces Plan for Split-Off of Zoetis
The offer better positions Pfizer to focus on its core business as an innovative biopharmaceutical company.
Thursday, May 23, 2013
Pfizer Presents Phase 3 Safety And Immunogenicity Data On HIV Drug
Pfizer Inc. presented the results from a Phase 3 study demonstrating the immunogenicity, tolerability and safety of Prevnar 13® in adults infected with HIV.
Tuesday, March 05, 2013
Pfizer Announces Resolutions with DOJ and SEC Related to Certain International Operations
U.S. agencies praise Company’s cooperation and compliance program.
Thursday, August 09, 2012
Scientific News
RNAi Screening Trends
Understand current trends and learn which application areas are expected to gain in popularity over the next few years.
The Genetic Roots of Adolescent Scoliosis
Scientists at the RIKEN Center for Integrative Medical Sciences in collaboration with Keio University in Japan have discovered a gene that is linked to susceptibility of Scoliosis.
A Gene-Sequence Swap Using CRISPR to Cure Haemophilia
For the first time chromosomal defects responsible for hemophilia have been corrected in patient-specific iPSCs using CRISPR-Cas9 nucleases
Experimental MERS Vaccine Shows Promise in Animal Studies
A two-step regimen of experimental vaccines against Middle East respiratory syndrome (MERS) prompted immune responses in mice and rhesus macaques, report National Institutes of Health scientists who designed the vaccines.
New Tool Uses 'Drug Spillover' to Match Cancer Patients with Treatments
Researchers have developed a new tool that improves the ability to match drugs to disease: the Kinase Addiction Ranker (KAR) predicts what genetics are truly driving the cancer in any population of cells and chooses the best "kinase inhibitor" to silence these dangerous genetic causes of disease.
Understanding the Molecular Origin of Epigenetic Markers
Researchers at IRB Barcelona discover the molecular mechanism that determines how epigenetic markers influence gene expression.
HIV Susceptibility Linked to Little-Understood Immune Cell Class
High levels of diversity among immune cells called natural killer cells may strongly predispose people to infection by HIV, and may be driven by prior viral exposures, according to a new study.
Diagnostic Test Developed for Enterovirus D68
researchers at Washington University School of Medicine in St. Louis have developed a diagnostic test to quickly detect enterovirus D68 (EV-D68), a respiratory virus that caused unusually severe illness in children last year.
How a Kernel Got Naked and Corn Became King
Ten thousand years ago, a golden grain got naked, brought people together and grew to become one of the top agricultural commodities on the planet.
Sweet Revenge Against Superbugs
A special type of synthetic sugar could be the latest weapon in the fight against superbugs.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!