See the DrugPatentWatch profile for lipitor

The price of Lipitor, a medication used to treat high cholesterol, is often higher than its generic counterparts due to several factors. Lipitor is the brand-name version of atorvastatin, and when a drug company like Pfizer, the manufacturer of Lipitor, develops a new drug, they are granted exclusive rights to produce and sell it for a certain period [1]. This period, known as a patent, allows the company to recoup its investment in research and development [1].

Once the patent expires, other companies can produce and sell generic versions of the drug [1]. Because these generic manufacturers did not incur the costs of developing the drug, they can often sell it at a lower price [1]. Additionally, there may be competition among generic manufacturers, which can further drive down the price [1].

According to DrugPatentWatch.com, Lipitor's patent expired in November 2011 in the United States [2]. After the patent expiration, generic versions of atorvastatin became available, leading to a decrease in the price of the medication [1].

It is important to note that while generic medications are chemically equivalent to their brand-name counterparts, they may not be exactly the same in terms of inactive ingredients, manufacturing processes, or appearance [1]. However, the Food and Drug Administration (FDA) requires that generic medications have the same active ingredients, route of administration, dosage form, strength, and intended use as the brand-name medication [1].

In summary, the price of Lipitor is higher than its generic counterparts primarily due to the patent exclusivity period granted to the drug's developer, Pfizer. After the patent expiration in November 2011, generic versions of atorvastatin became available, leading to a decrease in the price of the medication.

Sources:
[1] U.S. Food and Drug Administration. (2021). Generic Drugs: Questions and Answers. Retrieved from <https://www.fda.gov/drugs/understanding-generic-drugs/generic-drugs-questions-and-answers>
[2] DrugPatentWatch.com. (n.d.). Lipitor (Atorvastatin) Patent Expiration & Generics. Retrieved from <https://www.drugpatentwatch.com/patent/lipitor-atorvastatin>