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Pfizer’s arrival at patent cliff elicits concern from Congress

Patrick Ross, Washington DC

Pfizer yesterday became the latest major pharmaceutical manufacturer to see a leading drug patent expire with the introduction of generic versions of Lipitor - and now the company’s strategy for coping with the revenue loss has raised eyebrows in Congress

Many other high-profile drug patents are expected to expire in the next year. "The patent cliff that has been threatening the pharmaceutical industry has finally arrived," said IBISWorld analyst Sophia Snyder.

Pfizer reported $10.7 billion in Lipitor revenues in 2010,...

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