Users of Pfizer's popular cholesterol-lowering drug, Lipitor, could start saving some money. A generic version of the drug was made available to consumers beginning today (Wednesday). New England Public Radio's Kari Njiiri has more.
Lipitor is Pfizer's brand name for Atorvastatin, which is among a class of the most commonly prescribed medications in the US. It is also one of the most expensive. Paul Serio is the owner of Serio's Pharmacy, a long-standing independent drug store in Northampton, where cholesterol patients account for about a third of his customers. He says a lot of Lipitor business shifted about five years ago when Zocor, a similar cholesterol-lowering drug, went generic. Serio says he expects to see a further shift to the generic generic version of Lipitor
"Typically when a generic hits the market, you'll only see a savings anywhere from ten to twenty percent for the first sixty to ninety days. And after that the savings, when it becomes true multi-sourced, meaning most of the manufacturers have applied to make it, you'll see a larger reduction in cost to the consumer. And depending on your plan, it could be anywhere from a few bucks to, you know, 10 dollars typically…rather than paying 25 to 45 dollars for the brand name"
Lipitor's maker is not sitting idle when it comes to maintaining its market share. In a move similar to what the makers of Zocor did when its patent expired, Pfizer says it is authorizing insurers to keep dispensing Lipitor to their plan-members at generic co-pays for the next six months. And, in addition to its own brand, Pfizer will initially remain the only manufacturer of the generic drug — even though it will be sold in the US by another company. And published reports say Pfizer will also share in the net sales of the generic drug for the next five years.