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Deal Delays Generic Lipitor Until 2011
Pact with Indian drug maker stands to net billions for Pfizer
By Sam Gale Rosen
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Posted Jun 18, 08 5:11 PM CDT
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(Newser)
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Pfizer has struck a deal with an Indian generic drug maker to delay a cheaper version of Lipitor in the US until November 2011. The agreement limiting generic versions of the cholesterol-lowering drug will translate into billions more in profits for Pfizer, the New York Times reports. Lipitor, the world's best-selling medicine, costs about $3 a day; a generic version will likely be less than $1.
Pfizer's counsel calls the agreement “pro-patient, pro-competition, and pro-intellectual property.” But not everyone agrees. “This is clearly a miscarriage of the law,” says one analyst. Pfizer will not pay Ranbaxy—the Indian drug maker—but will allow it to sell generic Lipitor in a number of countries outside the US. The Federal Trade Commission is not expected to challenge the agreement.