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Against Monopoly

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Monopoly corrupts. Absolute monopoly corrupts absolutely.





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Pfizer wins and the consumer loses, Big Time

Been here before. The courts have blessed a settlement between Pfizer and Ranbaxy, an Indian generic maker of Lipitor, the anti-cholesterol medicine, in which the generic is kept off the US market for about 20 months link here. The news story suggests the deal may be worth on the order of $10 billion to Pfizer.

In an interesting twist to the story, the deal involved no cash payments which would have been against the law, but Ranbaxy was being allowed to sell its generic in a number of international markets. They include Canada, so smart American buyers can avoid the monopolist's prices by buying there and having the med mailed to them individually in the US.

Lipitor already faced competition from a generic form of Zocor, but Pfizer has apparently been pretty successful in keeping its established customers.


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