Pfizer Delays Generic Lipitor Release Until 2011

06/26/2008 05:12 am ET | Updated May 25, 2011
  • Susan Decker and Shannon Pettypiece Bloomberg

Pfizer Inc. and India's Ranbaxy Laboratories Ltd. agreed to keep copies of the cholesterol pill Lipitor off the U.S. market an extra 20 months, a move that may generate an added $12 billion for the U.S. drugmaker.

Under a lawsuit settlement, Ranbaxy won't sell generic versions of Lipitor, the world's best-selling drug, until November 2011, New York-based Pfizer said today in a statement. Analysts had projected Ranbaxy would enter the market in March 2010, when the main patent expires, while Pfizer was using litigation to delay competition until 2016.

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