A recent study done by the AARP Public Policy Institute addressed pharmaceutical giant Pfizer’s marketing tactics regarding Lipitor, a statin cholesterol medication. Having benefited from 14 years of patent protection, and massive profits, Pfizer has been looking for ways to block the generic form of its prescription drug, Lipitor, from entering the market in the face of patent expiration.
As part of its efforts to delay the release of generic Lipitor to the market, Pfizer has engaged in some of the following practices: It entered into agreements with generic manufacturers to delay the release of the generic brand; it entered into profit sharing agreements with other manufacturers, and it raised the price of Lipitor to maximize revenue. Pfizer is now facing lawsuits accusing the company of violating antitrust laws.
Pfizer’s actions in its campaign to maintain its market share has a direct impact on consumers. The delay in getting generic form of Lipitor to the market and rising prices forces consumers to continue to pay the high price for the brand name drug. Actions such as these make it clear that major drug manufacturers are more concerned with their profits then with helping the consumer.
Lipitor has been linked to health risks including an increased risk for diabetes, especially in women. If you have been diagnosed with new-onset type II diabetes you may be eligible for compensation through a Lipitor diabetes lawsuit. Please contact a Lopez McHugh attorney for a free evaluation.