With the huge sales of Lipitor Pfizer has had over the years, this has to be one of the hottest generics around today as Teva will profit from a portion of the sales. Pfizer in the meantime said the would sell name brand Lipitor at the generic prices.
Earlier this month, Teva announced laying off over 100 employees in the US and the UK after acquiring Cephalon.
JERUSALEM--(BUSINESS WIRE)--Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that pursuant to an agreement between its subsidiary, Teva Pharmaceuticals USA, Inc. and Ranbaxy Laboratories Limited ("Ranbaxy"), a portion of the profits from Ranbaxy’s sales of Atorvastatin Calcium Tablets during Ranbaxy’s 180-day first-to-file exclusivity period, will be paid to Teva. Terms of the agreement will not be disclosed.
Atorvastatin Calcium Tablets are the generic version of Pfizer’s Lipitor® Tablets. Annual sales of Lipitor® were approximately $7.8 billion in the United States as of September 2011, based on IMS sales data.