Pfizer sales will not ‘fall off cliff’

Pfizer’s vice-chairman, David Shedlarz, has told investors and shareholders at the annual Deutsche Bank healthcare conference that sales of the statin Lipitor, the world’s best selling prescription drug, would not “fall off a cliff”. Generic drugs containing Lipitor’s active ingredient, atorvastatin, are due to be released this summer, prompting fears that Pfizer’s sales could be hit hard if Lipitor is undercut.

Pravachol and Zocor, similar statins belonging to Bristol-Myers Squibb and Merck respectively, will have both lost their patents this June. The Harvard Heart Letter has welcomed this as generic versions of the drug will give rise to lower drug prices.

Lipitor has been the subject of several patent challenges in the last year. Pfizer successfully defended lawsuits from Ranbaxy Laboratories, and Indian-based generics manufacturer, although it lost a challenge in Austria, where the active ingredient in Lipitor may now be sold in other products. Pfizer said it would “vigorously challenge” such patent lawsuits.

According to Reuters, Mr Shedlarz conceded that sales would be hit, but he pointed to Pfizer’s pipeline which would see ten new products released during the 2005-2006 timeframe. He said: “Our portfolio has huge potential and we believe the marketplace is being conservative in valuing those products.” Wall Street estimates of the value of Pfizer’s new drugs are $2 billion (1.08 billion pounds) short of the company’s own estimates, Reuters said.

© Adfero Ltd