Lipitor prescription dips 50%, boost for Ranbaxy

NEW DELHI: Share price of Ranbaxy Laboratories gained 3% after reports said that prescription of Pfizer’s cholesterol lowering drug Lipitor fell by 50% within two weeks of the launch of a generic version by the Indian drug maker.

In the first week, the country’s largest drug maker got less than 3% market share of Lipitor in the world’s largest pharmaceutical market.

The number of Lipitor prescription fell from over 7.2 lakh to 3.6 lakh for the week ended December 9, media reports in the US said quoting data from pharma market research firm IMS Health.

Within the generic drug segment, Watson, the other generic drug maker captured about 80% of the low-cost market with Ranbaxy getting the rest. The Gurgaon-based pharma company is expected to gradually increase its market share.

Ranbaxy’s share price closed at Rs 395.95 at the Bombay Stock Exchange.

On November 30, the Indian firm launched its low-cost version of Lipitor in the US. Analyst expect Ranbaxy to earn as much as $600 million during the six month period, where only three brands will compete. Lipitor is the best selling drug ever and rakes in about $7.89 in annual sales for the American drug maker.

Pfizer is aggressively trying to protect its market share through unprecedented marketing strategies. But the Indian company’s management is confident that it will continue to garner a significant market share during and after the end of the six month period in the US.