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Lipitor

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BUSINESS
November 30, 2011 | By David Sell, Inquirer Staff Writer
A big slice of the U.S. prescription-drug market will change Wednesday, when Lipitor, the world's best-selling drug, gets generic competition. Black Friday-like rushes on pharmacies are not expected, but the change, at least in theory, will lower prices for patients trying to lower their cholesterol. The drug still requires a doctor's prescription. Ian Read, chief executive of Lipitor's maker, Pfizer Inc., said recently that the company hoped to create a nonprescription version.
NEWS
November 30, 2012
Ranbaxy Pharmaceuticals has halted productions of its generic version of the cholesterol drug Lipitor after recalling a second batch of tablets in the 10mg, 20mg, and 40mg dosage strengths. The lots of atorvastatin (the chemical name) are packaged in bottles of 90 and 500 tablets, and are being recalled due to "possible contamination with very small glass particles similar to the size of a grain of sand (less than 1 mm in size)," according to the U.S. Food and Drug Administration.
BUSINESS
December 2, 2011 | By David Sell, Inquirer Staff Writer
Israel-based Teva Pharmaceuticals Ltd., which has its Americas headquarters in North Wales, Montgomery County, officially joined the generic Lipitor market in the United States on Thursday by acknowledging a profit-sharing deal with Ranbaxy, the first independent company approved to sell a generic version of the blockbuster cholesterol medicine. It was unclear Thursday what Teva was doing to earn the profit, but it's possible the company is serving as insurance in case Ranbaxy cannot make enough of the pills.
NEWS
November 4, 2011 | By David Sell, Inquirer Staff Writer
Exercising daily and skipping french fries probably would do more to improve the health of human hearts, but that medical discussion took a new turn Tuesday when the pharmaceutical giant Pfizer said in the strongest terms yet that it would try to create an over-the-counter version of its best-selling cholesterol drug, Lipitor. In the 19 years since Lipitor was approved, more than 17 million Americans have gotten a prescription for it. But this is about more than medicine.
BUSINESS
January 28, 2009 | By Miriam Hill INQUIRER STAFF WRITER
When Pfizer Inc. chief executive officer Jeffrey Kindler explained why he was spending $68 billion to acquire rival Wyeth, he said he was dazzled by the company's "robust pipeline of biopharmaceutical candidates. " But is Wyeth really bringing a rich dowry of drugs to this partnership? Or is the merger another sign of a waning industry whose years of flashy growth are behind it? No one will know the answer to those questions for several years, but analysts said yesterday that the new company's enormousness - $70 billion in combined sales initially - would require billions in new sales to make Kindler's premise pay off. "Because of its size, the new needle will be hard to budge unless many new, big drugs are simultaneously discovered, and Pfizer's longer-term research and development track record has been spotty," Sanford Bernstein analyst Tim Anderson told investors.
NEWS
April 15, 2011 | By Marie McCullough, Inquirer Staff Writer
Five years ago, at age 49, Greg Walter felt uncharacteristically forgetful and confused. "I've been able to multitask for years, and all of a sudden, I was not remembering things," recalled the hospital administrator. "I was working off Post-it notes. Until I crossed something off the Post-it, I couldn't be sure what I had done. " He was not, as he initially feared, in the early stages of Alzheimer's disease. The culprit turned out to be Lipitor, the cholesterol-lowering statin he was taking to prevent heart disease.
BUSINESS
March 14, 2013 | By David Sell, Inquirer Staff Writer
For consumers, free is usually good. When the freebie might help you avoid a heart attack, that's usually better. Retail grocery store competition is fierce, and Wegmans is trying to get an edge by giving away - yes, free - a generic version of what was the world's best-selling drug, the cholesterol medicine Lipitor. Based in Rochester, N.Y., Wegmans has several stores in the Philadelphia area. Jo Natale, Wegmans' director of media relations, would not say how many new customers the program had generated, but the company decided to extend the offer at least through the end of 2013 after first planning to end it in April.
NEWS
November 3, 2011
Teva Pharmaceutical Industries Ltd., which is headquartered in Israel but has operations in North Wales, said it has joined consumer products giant Proctor & Gamble in a joint venture called PGT Healthcare. Based in Geneva, the new firm will operate in "essentially all markets outside of North America," and develop new over-the-counter brands for North America. Meanwhile, Teva said Wednesday that it might introduce an unnamed "important undisclosed generic product," later this year.
BUSINESS
August 22, 2012 | By Linda A. Johnson, Associated Press
If brand-name prescription medicines cost you as little as generic pills, which would you choose? A few drugmakers are betting that Americans will stick with the name they know. They've begun offering U.S. patients coupons to reduce co-payments on brand-name medicines and compete with new generic versions of the drugs. The medicines include staples in the American medicine cabinet - cholesterol fighter Lipitor, blood thinner Plavix and blood pressure drug Diovan - along with drugs for depression and breast cancer.
BUSINESS
July 7, 2012 | Inquirer Staff Report
IN THE REGION NuStar sells 50% of N.J. refinery Ownership of another Philadelphia-area refinery is about to change. NuStar Energy L.P. said it would sell 50 percent of its asphalt operations, which include refineries in Paulsboro and in Savannah, Ga., to a joint venture in a transaction expected to be completed by Sept. 30. Lindsay Goldberg L.L.C., a New York private-equity firm with $10 billion under management, will pay $175 million for a 50 percent interest in the joint venture, with San Antonio-based NuStar holding the other 50 percent stake.
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BUSINESS
January 12, 2014 | By David Sell, Inquirer Staff Writer
What's good for some can be bad for others, and that maxim was demonstrated again last week with the release of the annual National Health Expenditures analysis. Though America spent just shy of $2.8 trillion in 2012 on health-care spending, the rate of growth was essentially flat, continuing a four-year trend, according to the study by the federal government's Office of the Actuary, Centers for Medicare and Medicaid Services, published in   the journal Health Affairs. That is the longest period of slow or no growth in the 53-year history of the analysis.
BUSINESS
March 14, 2013 | By David Sell, Inquirer Staff Writer
For consumers, free is usually good. When the freebie might help you avoid a heart attack, that's usually better. Retail grocery store competition is fierce, and Wegmans is trying to get an edge by giving away - yes, free - a generic version of what was the world's best-selling drug, the cholesterol medicine Lipitor. Based in Rochester, N.Y., Wegmans has several stores in the Philadelphia area. Jo Natale, Wegmans' director of media relations, would not say how many new customers the program had generated, but the company decided to extend the offer at least through the end of 2013 after first planning to end it in April.
NEWS
November 30, 2012
Ranbaxy Pharmaceuticals has halted productions of its generic version of the cholesterol drug Lipitor after recalling a second batch of tablets in the 10mg, 20mg, and 40mg dosage strengths. The lots of atorvastatin (the chemical name) are packaged in bottles of 90 and 500 tablets, and are being recalled due to "possible contamination with very small glass particles similar to the size of a grain of sand (less than 1 mm in size)," according to the U.S. Food and Drug Administration.
BUSINESS
November 25, 2012
In the Region Kenexa delays meeting Kenexa Corp. , of Wayne, has rescheduled a special shareholders meeting in connection with its acquisition by International Business Machines Corp. to Dec. 3 from Nov. 29. The switch is tied to the recent settlement of litigation over IBM's pending purchase of Kenexa, a developer of human resources software, for $1.3 billion. - Inquirer staff   Vodka distiller hires adviser Central European Distribution Corp. , the Mount Laurel company with major distilling operations in Poland and Russia, said it had retained Houlihan Lokey Capital Inc. as a financial adviser.
BUSINESS
November 3, 2012 | By David Sell, Inquirer Staff Writer
  Pfizer and Teva are the largest branded and generic pharmaceutical companies, respectively, as measured by revenue and both reported lower quarterly profits Thursday. The results are connected, due to patent litigation between the companies. Pfizer Inc. is headquartered in New York and has facilities around Philadelphia. Teva Pharmaceutical Industries Ltd. is based in Israel but has its Americas headquarters in North Wales. Teva swung from a $916 million profit to a $79 million loss in the quarter ending Sept.
BUSINESS
August 22, 2012 | By Linda A. Johnson, Associated Press
If brand-name prescription medicines cost you as little as generic pills, which would you choose? A few drugmakers are betting that Americans will stick with the name they know. They've begun offering U.S. patients coupons to reduce co-payments on brand-name medicines and compete with new generic versions of the drugs. The medicines include staples in the American medicine cabinet - cholesterol fighter Lipitor, blood thinner Plavix and blood pressure drug Diovan - along with drugs for depression and breast cancer.
NEWS
June 11, 2012 | Inquirer Editorial
Clergy should express contrition As penance for his involvement in the murder of Thomas Beckett, Henry II, king of England, walked to Canterbury Cathedral in sackcloth and ashes and allowed himself to be publicly flogged by the monks. Why, then, could not Cardinal Anthony Bevilacqua of the Archdiocese of Philadelphia simply have made a public admission of errant priests, rather than lead an apparent cover-up of his reassigning them without any punishment, thereby exposing other innocent children to clergy abuse?
BUSINESS
May 10, 2012 | Inquirer Staff Report
Officials from Pfizer Inc., whose blockbuster cholesterol drug Lipitor faces increased generic competition this month, told the Wall Street Journal Wednesday that the company would discontinue many of the unusual promotional programs it conducted in the last six months to retain revenue from the drug. Pfizer, which lost exclusivity on Lipitor in late November, had offered $4 coupons and struck deals with some health plans, which the Journal reported cost the company more than $87 million.
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