Pfizer has big expectations for its oral rheumatoid arthritis treatment Xeljanz--about $3 billion worth. But those expectations were struck a serious blow when European Medicines Agency regulators Thursday turned it down for approval.
Last year was a tough one for Pfizer ($PFE), having to shoulder a full 12 months without the riches of Lipitor to rely on. Still, CEO Ian Read did the best he could with what he had to work with. And for that, he got a small raise, although nothing like the 44% upgrade he received a year ago.
Lipitor as a loss leader? That's the approach Wegmans' pharmacies are taking. As the Philadelphia Inquirer reports, the grocery store chain offers generic versions of Lipitor for free, as a way to bring in new pharmacy customers. And the promotion must be successful--Wegmans just extended it through the end of this year.
Ranbaxy Laboratories is overcoming hurdles as it tries to regain its vaporized market share for generic Lipitor. It got past a recall, figured out how glass particles got into its API and is again manufacturing the drug for the U.S. market. Now it has also squashed an effort to force a national recall of its past production of the drug.
Ranbaxy Laboratories surprised investors with a quarterly loss of 4.92 billion rupees ($90.95 million), thanks to the cost of recalling its generic version of Lipitor.
Ranbaxy Laboratories says it is back in the generic Lipitor game, having repaired its most recent manufacturing problems at a plant in India. Now it must also restart the process of repairing its reputation as a top generics manufacturer after yet another manufacturing foul-up and surprising analysts with an unexpected quarterly loss.
Ranbaxy Laboratories is back in the generic Lipitor saddle again. Three months after stopping production of the cholesterol fighter and recalling almost a half-million bottles, the Indian drugmaker says it is restarting production for the U.S. market.
A recall of generic Lipitor had already devastated Ranbaxy Laboratories' market share and entangled it in litigation. Now it has sparked a war of words between the Indian drugmaker and lawyers for consumers who say they were injured by products believed to have been tainted by glass particles.
Actavis, the former Watson Pharmaceuticals, said its fourth-quarter earnings paled by comparison to a year ago when it first released an official generic of Lipitor.
India's Ranbaxy Laboratories' manufacturing problems have devastated its share of the U.S. generic Lipitor market. On top of that, an expanded lawsuit in New Jersey seeks to have the drugmaker recall all of the drug that it has in the U.S.