It’s a little hard not to say “Oh, how the mighty have fallen” when a retailer announces that it will give away for free what was once the world’s top-selling drug. But for retailers, it also makes good business sense.
For branded drug makers, the pharmaceutical patent cliff has never loomed higher or steeper. The exposure of so many of the world’s biggest-selling medicines to generic competition for the first time is redefining the pricing model for many of the most widely prescribed classes of pharmaceuticals.
In what could symbolize the so-called "patent cliff" that an executive from healthcare market research firm IMS Health spoke of at a recent trade show, a regional mass merchandise chain is taking what used to be the world's top-selling drug and giving it away for free.
Johnson & Johnson Consumer earlier this summer put the freeze on pain with the launch of its Bengay Zero Degrees line extension, an external analgesic rub that makes its home alongside the frozen peas in the freezer.
An experimental drug under development by Pfizer and a unit of Johnson & Johnson does not appear effective in Alzheimer's disease patients who carry a certain genotype, according to results of a late-stage clinical trial announced by Pfizer on Tuesday.