Watson CEO Paul Bisaro said that Pfizer’s strategy to keep its market share of Lipitor may boost revenue without aiding profit, Bloomberg reported.
The CEO of Wtson, which won the right to sell an authorized generic version of the drug, noted that Pfizer is “starting to lose market share,” adding that “It appeared they were trying to protect revenue and not profit.”
Pfizer’s market share has dropped to 32 percent in the seventh week of competition from 41 percent in the second week, according to data from IMS Health.
“We couldn’t ever make it work that the discounts they were doing to get market share were better than what they’d get if they just allowed their authorized partner sell the product,” Bisaro said.
Pfizer’s strategy “is designed to increase patient choice and improve patient adherence by offering Lipitor patients more support than they would receive from a company selling generic atorvastatin,” said Pfizer spokeswoman Mackay Jimeson.