Patent of the one of the most blockbuster drug in the market – LIPITOR has expired. Patent was held by Pfizer which held the market exclusivity and earned great revenues at an average of $ 11 billion with last year sales staggering at $ 13 billion. Lipitor almost amounted for one sixth of the revenue of Pfizer. Though many companies stop marketing their products at patent expiry but Pfizer is trying best to keep up his market against all generic rivals – Ranbaxy and Watson Pharmaceuticals.
Strategy of Pfizer to earn money with expired patent
1. Neogiating with insurance providers – Pfizer is doing every possible step to block pharmacies from dispensing generic version of drug. Company is offreing discount card offering drug at $ 4 a month. “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.
2. Strong Marketing Campaign – Pfizer is still airing TV commercials of its drug. Pfizer’s website www.lipitorforyou.com has signed ups exceeding the expected goals.
3. Preventing delay of entrying generics into customer hands – Pfizer has bagged deal with Catalyst Health Insurance Inc and Coventry Health Care Inc. to prevent generics to reach customer uptill next summer.