Lipitor keeps 37 percent of market share against generic rivals
San Franciso, CA, United States (AHN) – Pfizer’s cholesterol drug Lipitor is holding onto roughly 37 percent of the overall U.S. market as it competes with generic versions, the company reported Tuesday.
Pfizer’s CEO, Ian Reed, said at the J.P. Morgan health care conference in San Francisco the company is “where we expected to be” in regards to sales of Lipitor.
Generic versions of the cholesterol-lowering drug went on sale in late November and early December from rivals including Watson Pharmaceuticals and Ranbaxy Laboratories.
Losing the exclusive rights to Lipitor, the top-selling drug in the world, was a big blow for Pfizer. While the pharmaceutical giant has a great many other products in its pipeline, Lipitor was a driving force behind the company’s profits.
Pfizer has been aggressive as it attempts to hold on to Lipitor’s market share during the first six months of generic availability. The company has offered generous financial incentives to keep and garner users.