UM: Pfizer

CNBC publishes a report on how Pfizer is trying to keep hold of revenues in the face of losing its patent for its cholesterol- lowering drug Lipitor on Wednesday. The article quotes Erik Gordon of University of Michigan Ross School of Business, who says that Pfizer’s tactic “spits in Congress’s face.” The company is cutting deals with insurers and pharmacies to cut the price of Lipitor, in exchange for agreements that would prevent the use of lower-cost generics. [Source]