The market has been focused this week on the recall of generic Lipitor by Ranbaxy Laboratories but it turns out there was another Indian generics company that recently retrieved a key generic drug.
The potential manufacturing glitches that Ranbaxy Laboratories has been having with generic Lipitor production are more complicated than initially suggested when the Indian generics maker ordered a recall last week because some pills may contain tiny glass particles. It turns out there was an earlier recall three months ago because of possible mispackaged pills that escaped broad public notice.
The generic Lipitor that Ranbaxy Laboratories has recalled came out of an Indian plant that for the past 7 months has been under the watchful eye of a phalanx of independent consultants mandated under a 5-year consent decree made with federal authorities in the U.S.
Ranbaxy Laboratories has stumbled again, only about 7 months after its return from FDA banishment from the U.S. market. And it has tripped up on the drug that powered it to a massive first quarter in the U.S., atorvastatin, generic Lipitor, a product with which it was leading the world in production.
The big news in generic drugs in the last couple of years has been all of the marquee brands that are getting their tails kicked by generic competition. The best example is the loss of the patent on...
A federal judge has knocked the breath out of a former Pfizer executive whose whistleblower lawsuit accused the company of using a variety of shenanigans to pedal more scripts of Lipitor, the cholesterol-lowering drug that became the best-selling med of all time.
The Federal Trade Commission has a powerful new ally in its quest to quash "pay to delay" patent settlements: The American Medical Association. As Forbes reports, the doctors' association now officially supports legislation to outlaw the practice.
Merck ($MRK) has doused development efforts on a new therapy combining its diabetes drug Januvia with a generic version of the cholesterol drug Lipitor.
Just three months after quietly snuffing its late-stage development program for the cholesterol combo MK-0524B, Merck has once again quietly doused development efforts on a new cholesterol therapy. MK-0431E, once in line for a 2014 regulatory filing, was killed for unspecified business reasons, according to Dow Jones.
Once again, Lipitor's patent loss gave Pfizer's ($PFE) quarterly results a big wallop. The cholesterol fighter's sales plummeted by 71% year over year, to $749 million. That drop, if a bit bigger than anticipated, was expected; it's been expected for years. So, the company's 16% drop in sales, to about $14 billion, is no wake-up call.