Ranbaxy’s Lipitor Copy in U.S. Stores Threatens Pfizer Sales
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Ranbaxy Laboratories Ltd.’s copy of the $10.7 billion Lipitor cholesterol pill was released in the U.S., sending its shares up and threatening Pfizer Inc.’s sales.
Ranbaxy, India’s biggest drugmaker, won approval yesterday from the Food and Drug Administration to sell generic versions of the world’s top-selling medicine. The company, based near New Delhi, will share profit on the first six months’ sales with Israel’s Teva Pharmaceutical Industries Ltd., Ranbaxy said today, adding that terms of the agreement won’t be disclosed.