Posted by Mark J. Miller on May 10, 2012 12:22 PM
Lipitor may be good for folks for helping lower blood cholesterol, but it is also extremely good at making money. Its manufacturer, Pfizer, raked in $12.9 billion annually at Lipitor’s peak, but those cash-cow days when Lipitor was the world's top-selling prescription drug are long gone. More generally known as Atorvastatin, it became a generic back at the end of November.
When a drug goes generic, drug companies generally give up on it right away and move on to the next thing that can potentially rake in the dough. But Pfizer didn’t want to do that. Lipitor had brought in so much, the company was hoping that it could find a way that it could continue to be a revenue stream, including its Lipitor for You patient program, even though Walmart jumped on the generic version as soon as it could do so. Now, don't bother asking your doctor if Lipitor is right for you.Continue reading...
Posted by Mark J. Miller on December 1, 2011 02:59 PM
The drug Lipitor has made Pfizer so much dough that it isn’t planning to just turn its attention to newer products now that the drug can be sold generically as of Wednesday, according to the Associated Press.
The problem is that Pfizer doesn’t have anything new that can make up for the $11 billion that Lipitor brings in, the AP points out, so it is doing everything it can to hang onto the customers it has.
The AP has it that when a drug goes generic, the revenue that is has been pulling in from that drug generally disappears for the most part within a year, but Pfizer has bought itself about six months by “devis(ing) discounts and incentives for patients, insurers and companies that process prescriptions” that will “make the brand name drug about as cheap as or cheaper than the generics.”Continue reading...