Late last month Merck's blockbuster cholesterol-lowering drug Zocor came off patent, and generic copycats are already cutting into its market share. The generic version of Zocor, known as simvastatin, represented 49 percent of new prescriptions. Israel-based Teva led the way with about a third of the new scripts, followed by Dr. Reddy's Laboratories and Ranbaxy, both of which are based in India. The generics also impacted another best-selling statin, Lipitor. Pfizer has seen Lipitor's market share slide in recent as insurance companies encourage patients to switch to generic versions of Zocor.
- see this The Wall Street Journal article [1] for more on generic drugs (sub. req.)
PLUS: In the next five years, 103 drugs will come off patent, representing $73 billion in annual sales. Generic drug makers in India such as Dr. Reddy's and Ranbaxy are positioning themselves to take advantage of the opportunity. Article [2]
Links:
[1] http://online.wsj.com/article/SB115283449479206371.html?mod=health_hs_pharmaceuticals_biotech
[2] http://www.business-standard.com/compindustry/storypage.php?leftnm=1&subLeft=1&chklogin=N&autono=98364&tab=r