As our very own Michael Söze reported earlier today the Pfizer created pharmaceutical brand Lipitor watched it’s cholesterol lowering medication patent expire today and now in response to that expiration we have learned that they plan to greatly discount their brand name offering to continue their dominance over the market.
While Lipitor currently costs upwards of $120 per month to obtain the company plans to steadily decrease that cost through the use of discount programs and general cost lowering procedures.
According to Pfizer documentation the drug will now be offered at or below generic brand pricing for the next 180 days as the company determines how to maintain their control over the market.
Lipitor is an important drug for Pfizer with 2012 projections set at $63-63.5 billion compared to $67.8 billion in 2010.
With today’s patent now expired American pharma company Watson Pharmaceuticals immediately released their own “authorized” generic version of the drug known as atorvastatin calcium, that drug was released in partnership with Pfizer and the two company’s will share in the products sales for the next five years.
In the coming months India based Ranbaxy will also release a generic version of the drug, at this time they are still awaiting FDA approval.
In the meantime Pfizer will continue to look for new revenue streams as Lipitor made up 15% of the company’s revenue.
Pfizer currently has 9 million active Lipitor users.
Will you be switching your Lipitor medication to a generic form of the drug once the company’s 180 day discount program has come to an end?