In kind

19 June 2008 By Robert Cyran Follow @rob_cyran

The drug giant inked an agreement that postpones generic competition to its $12bn cholesterol drug from India s Ranbaxy. The quid pro quo: Ranbaxy can sell another of Pfizer s drugs. This may not be as obviously anticompetitive as a cash payment, but it s close.

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Pfizer and Ranbaxy have settled all litigation over Lipitor, the cholesterollowering drug. Under the agreement, Ranbaxy will sell a generic version of the drug in the US starting in November 2011. The Indian drug company had sought to sell Lipitor starting in March 2010. The agreement also provides Ranbaxy with a license to sell a generic version of Lipitor in other countries a various dates.

In exchange, Pfizer granted Ranbaxy the right to sell a generic version of Caduet, a medication that combines Lipitor with a drug for highblood pressure, in November 2011. The patent on this drug expires in 2018.

Pfizer sold $12bn of Lipitor and $568m of Caduet last year.

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