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Summary Box: Generic rivals cut into Lipitor sales

AP News
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Posted: Dec 19, 2011 6:53 PM
Summary Box: Generic rivals cut into Lipitor sales

SALES SPIRAL: Sales of Lipitor, the world's top-selling drug, plunged 50 percent right after Pfizer's cholesterol-lowering medicine got two generic rivals in the U.S.

COULD BE WORSE: Analyst Les Funtleyder says that's a smaller drop than he expected, mainly because of Pfizer's aggressive effort to keep patients and insurers loyal to Liptor by luring them with big rebates and discounts.

CLOSELY WATCHED: Other drugmakers will track how well the strategy does because they face generic competition, and a big revenue hit, for some of their most lucrative medicines over the next few years.