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 $14 billion, is no wake-up call.
More job cuts at Pfizer ($PFE). The world's biggest drugmaker is shedding 300 from its Canadian workforce, or about 11% of its employees in the country. Hardest hit will be sales and marketing, particularly in primary care.
Some of the biggest blockbusters known to the pharma industry have dropped off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition lays sales to...
Some of the biggest blockbusters known to the pharma industry have been swept off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition awaits to chop up markets. Barring the development of new megablockbusters this list is likely to remain stable for some time. That's positive for the companies and their investors. It will also help fund major R&D operations around the globe. And the drive to improve performance should continue to drive innovation. Click here to check out the full report >>