Lipitor lawsuit against Pfizer settled

Pfizer reached an agreement with Mylan, Inc. regarding Lipitor in January. The agreement brought to end patent claims filed by Mylan. Although the terms of the settlement are confidential, the agreement will most likely keep Mylan out of the market of future drug production.

Lipitor is the popularly prescribed cholesterol medication manufactured by Pfizer. There has been speculation that Lipitor would lose patent protection later this year, potentially opening up competition for generic versions of the drug. Reports indicate that sales of the drug in the United States reached more than $7 billion last year alone.

The drug has also been at the center of several other lawsuits. In a 2006 Lipitor lawsuit, Pfizer was charged with failing to provide sufficient consumer warnings of side effects. In 2010, the company was the subject of whistleblower lawsuit regarding its marketing practices for the product.

Lipitor was also the subject of a 400,000 bottle recall in December. However, with the recent settlement in the Lipitor lawsuit, Pfizer will most likely maintain its lion’s share of the cholesterol drug market and its increasing profits.