Drug companies are acutely aware of what’s called the ‘patent cliff’, when their expensive brand name medications lose their patent protection, thus opening up the market for cheaper, identical generic competition. This is good news for consumers, but very bad news for Big Pharma. Lipitor*, for example, Pfizer’s blockbuster cholesterol medication, is set to fall off the patent cliff in 2011.
But even last year’s sales of the biggest selling drug on the planet already showed declines due to growing competition from other cholesterol drug manufacturers. See also: Is Big Pharma Onboard the Titanic? Continue reading