Insider predicts a share rally for Pfizer (and possibly Big Pharma) today.
A US federal judge ruled for Pfizer in its patent dispute with Ranbaxy Laboratories Ltd. over Lipitor, the world's top-selling prescription medication, in a move expected to send shares of the New York-based drug giant as well as the rest of the sector higher on Monday.
Judge Joseph J. Farnan of the U. S. District Court for the District of Delaware upheld the exclusivity of two Pfizer patents covering atorvastatin, the active ingredient in the cholesterol-lowering drug. The decision means it will be entitled to a permanent injunction prohibiting Ranbaxy from obtaining approval for or marketing its generic version of Lipitor until 2011.
Bombay-listed Ranbaxy shares fell 6% on Monday. They say they plan to appeal.
In October, a British court also upheld Pfizer's patent on atorvastatin. See full story.
Lipitor was introduced in the U.S. in 1997. According to New York-based Pfizer, more than 18 million people in the U.S. have been prescribed Lipitor, which had sales of about $12 billion in 2004.
Insiders' view: Just before the cheering becomes deafening remember the recent IDEAL study results at the AHA.
http://pharmagossip.blogspot.com/2005/11/lipitor-less-than-ideal-results.html
Generic simvastatin looks a great cost saving option for many people.
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