Content about Wyeth

NEW YORK This is further substantiation that the business of over-the-counter medicines, particularly those sold in the U.S. market, is a key growth driver for pharma companies. If you weren’t convinced when Pfizer re-entered the OTC market with its acquisition of Wyeth, then you certainly should be convinced now.

NEW YORK Over-the-counter medicines save healthcare dollars. It’s certainly a value that consumers are taking advantage of in light of the current recession. According to this report, as well as others — i.e., the Kaiser Family Foundation polls — Americans are cost shifting from more expensive and more time-consuming (having to take time off of work to see a doctor) prescription therapies to OTC medicines.

The deal gives a great deal of added heft to Pfizer’s pharmaceutical division — the combined Pfizer/Wyeth entity represents $70 billion in annual sales. Pfizer was already the leading pharmaceutical supplier at retail pharmacy for the 12 months ending November according to IMS Health. And that’s thanks in large part to the company’s Lipitor franchise. While Lipitor is the No. 1 drug sold in retail pharmacy today, the first patent protecting the statin expires as soon as 2010, though most analysts project a generic Lipitor will be introduced by November 2011.