Mylan starts selling generic Lipitor in Europe; to buy back shares

14 May 2012

US generic drug major Mylan’s (Nasdaq: MYL) shares 2.2% to $21.55 in morning last Friday after the company revealed that it has launched a copy version of Pfizer’s all-time blockbuster cholesterol lowerer Lipitor (atorvastatin calcium) tablets, 10mg, 20mg, 40mg and 80mg in France, Belgium, the UK, the Netherlands and Ireland.

Mylan has received marketing authorization from each country's respective health authority to begin selling its product immediately. This product is indicated for the prevention of cardiovascular disease and hypercholesterolemia.

Heather Bresch, chief executive of Mylan, commented said: "We are pleased to provide access to generic Lipitor to more than 4 million patients in five countries across Europe. Mylan is committed to expanding access to high quality medicine in Europe and around the world. Mylan's launch of Atorvastatin Calcium Tablets will help to provide health care systems in these markets with an estimated $700 million of savings in 2012 associated with the generic availability of this important medicine."

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK