Pfizer Strategies to Maximize Revenues: Branded Lipitor vs. Generics

STUDY OVERVIEW
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Non-members: Click here to review a complimentary excerpt from "Pfizer’s 180-Day Battle: Branded Lipitor vs. Generics - Maximizing Revenues at the End of a Lifecycle"

STUDY OVERVIEW

Lipitor entered a crowded market as the fifth statin but quickly closed the distance to become the statin market leader as well as the world’s top-selling drug. As the end of Lipitor’s patent protection neared, Pfizer relied on aggressive, often unprecedented strategies to maintain market share for Lipitor. Revenue still plummeted after generic atorvastatins hit the market, but the strategies were successful enough at retaining sales that some are being utilized by other drug companies today.

This case study reviews the multiple strategies - from promotions and partnerships to rebates and copays - Pfizer used to maximize its profits from Lipitor in the final year before—and the first six months after—the brand’s patent protection expired. Through a series of well-integrated marketing and sales activities, the company established and promoted the brand's superior efficacy. The study details Pfizer’s profitable generic counter-attack.

Using secondary research, Best Practices, LLC created this case study to assess and highlight the winning strategies that helped Lipitor retain market share and maximize revenue as long as possible. Executives can use this study to understand Pfizer's approach to using superior marketing and contracting strategies to maintain a blockbuster's sales when it loses patent protection.

KEY TOPICS

Executive Summary
Key Strategies & Tactics
Results
Looking Ahead
Appendix

SAMPLE KEY FINDING

Loss of Patent Threatened Revenue Stream: Cholesterol-fighter Lipitor, the world’s top-selling prescription brand since 2004, faced the end of U.S. patent protection in 2011. Manufacturer Pfizer stood to lose most of its $9B+ annual revenue stream as soon as generic copies hit the market, Nov. 30, 2011. Pfizer was expected, by tradition, to quietly let Lipitor slip away and shift its attention to other products. However, there was no new statin in line to replace Lipitor.
180-Day Window of Opportunity: Under the Hatch Waxman Act, the first approved generic copy has 180-day market generic exclusivity after the branded drug loses patent protection. Prices typically fall during the exclusivity period to 10-25% below the branded drug’s price. Pfizer decided to lower prices and continue compete with Ranbaxy (the first approved generic) and Watson (an authorized, unbranded copy of Lipitor) until the 180 days ended and multiple generics crowded the market.

METHODOLOGY

Insights were drawn from extensive secondary research.

Industries Profiled:
Pharmaceutical; Biotech; Health Care

Companies Profiled:
Pfizer

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Pfizer’s 180-Day Battle: Branded Lipitor vs. Generics - Maximizing Revenues at the End of a Lifecycle

ID: 5223

Features:

Pages/Slides: 36

Published: Pre-2019

Delivery Format: Online PDF Document

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