The aggresive sales strategies on Lipitor by Pfizer has started showing positive results as initial drop of sales has halted according to the new IMS Health numbers. This sees Pfizer holding on to 37% of the Lipitor market, having dropped from initial market share of 41% since Ranbaxy Laboratories and Watson LaboratoriesÂ launched their generic versions of Lipitor at the beginning of December which allowed them to rapidly grab 59% of the Lipitor market.
This stable trend is, according to research director at the IMS Institute for Healthcare Informatics, Michael Kleinrock,Â Â unusual as a “free fall” is observed under normal circumstances. The trendÂ vindicates Pfizer’s CEO Ian Read earlier comments aboutÂ absence ofÂ need to worry about Lipitor sales at the J.P. Morgan Healthcare Conference.
Generic drugs have taken larger share of post-patent sales of late and at a much quicker rate too. While drugmakers in the pastÂ would have bowed toÂ generic competition, Pfizer, in an unusual attempt,Â has placed a lot ofÂ efforts to keep Lipitor sales, and it is certainly not a fruitlessÂ one. The generally-agreed-upon strategy involved a follow-up drug; price increases for the older drug as patent life wound down to transfer patients to the newer med; and a lot of finger-crossing.
So how did Pfizer do it? Why couldn’t its rivals do the same? Other drugmakers are very, very interested. Are you?
Senior level representatives from Pfizer will be dropping by at the BioPharma Asia Convention 2012 to address on various issues in biopharmaceutical industry. Mr Salomon Azoulay, Senior Vice President, MedicalÂ & Development, Emerging Markets/established products business units, USA will share his views on "Pfizer's global clinical development strategy with collaborations in Asian powerhouses India & China" atÂ Â Pharma Trials World Asia 2012. Mr Pierre Nader, Director of Operational Improvement & Excellence, Lean Six Sigma Master BlackBelt and Mr Kim Sandell, Director, Operations Management & Operational Excellence meanwhile will speak on “Applying lean to the overall value chain of a continuous process organisation“ and “Increasing throughput through collaboration and capacity management“ respectively at Pharma Manufacturing World Asia 2012.
See you at March this year!