Good article in the FT by the away-meticulous Andrew Jack. His focus is on the impending patent expiry of Lipitor. But read between the lines. It’s really about how Big Pharma is going to survive and thrive in the post-blockbuster era.
Jack writes:
Jeffrey Kindler, CEO of Pfizer, the maker of Lipitor: “When such a thing goes off-patent, obviously it’s a very significant event ... Our job is to prepare the company for that”
But the monopoly rights that made Lipitor so lucrative are now set to disappear. Once its patents expire in 2011, generic drug manufacturers will be able to sell it far more cheaply. That is good for patients, but bad for Pfizer as it struggles to maintain its pre-eminent industry ranking. It is also a sobering moment for the entire pharmaceutical industry: many believe that the circumstances that gave rise to Lipitor’s extraordinary success may never occur again.
The complete FT article can be found here:
http://www.ft.com/cms/s/2/d0f7af5c-d7e6-11de-b578-00144feabdc0.html
Jack writes:
Jeffrey Kindler, CEO of Pfizer, the maker of Lipitor: “When such a thing goes off-patent, obviously it’s a very significant event ... Our job is to prepare the company for that”
But the monopoly rights that made Lipitor so lucrative are now set to disappear. Once its patents expire in 2011, generic drug manufacturers will be able to sell it far more cheaply. That is good for patients, but bad for Pfizer as it struggles to maintain its pre-eminent industry ranking. It is also a sobering moment for the entire pharmaceutical industry: many believe that the circumstances that gave rise to Lipitor’s extraordinary success may never occur again.
The complete FT article can be found here:
http://www.ft.com/cms/s/2/d0f7af5c-d7e6-11de-b578-00144feabdc0.html
