This is an interesting move on the drug company’s part as I feel that the strategy of pumping $87 million into promoting a drug that you know is not going to sell as well as before is far from being the sensible thing to do. Most drug companies would give up on a drug and turn their attention to more profitable avenues when it hears that the patent has expired and that generics have become available. Not Pfizer. Pfizer tried to leach every inch of profit out of the drug before giving up.
And there are signs that Pfizer is giving up on Lipitor, which as far as I’m concerned is the most sensible thing to do at this stage in the game. The release of generics is imminent, so it is important that Pfizer turns its focus to other areas of the pharmaceutical industry. In fact, the company recently went from aggressively marketing the medication to stopping all efforts to promote it at all. This includes the end of negotiations with health plans that are signing with generics for cheaper deals as well as an actual end to all marketing campaigns.
Some believe, however, that Pfizer may set an example with this strategy as this post-expiry plan allowed the company to hold onto revenue and avoid disaster.To continue reading, click here.