Jan. 5 (Bloomberg) -- Pfizer Inc.’s share of the market for its cholesterol pill Lipitor, which lost patent protection last year, will slide over the next five months, according to generic-drug maker Watson Pharmaceuticals Inc.
Watson, producer of a Pfizer-authorized copy of Lipitor, competes with a generic version made by India’s Ranbaxy Pharmaceuticals Ltd. Watson and Ranbaxy entered the U.S. market on Nov. 11, and have exclusive rights for 180 days before other manufacturers can sell copies.
Paul Bisaro, Watson’s chief executive officer, today revised a forecast he made last year that New York-based Pfizer would hold onto 40 percent of the market once the copycats went on sale. Pfizer gets revenue from Parsippany, New Jersey-based Watson’s version.
“Their ability to maintain that 40 percent will probably erode,” Bisaro said. “History would indicate that it would come down a little bit,” he said at an investor conference held by Goldman Sachs Group Inc. in New York.
Pfizer fell 1 percent to $21.55 at 3 p.m. in New York trading. Watson gained 1.5 percent to $61.24.
--Editors: Bruce Rule, Angela Zimm
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