See the DrugPatentWatch profile for lipitor

In the past year, Lipitor's market share has been significantly impacted by the entry of generic competition. Lipitor, a medication used to treat high cholesterol, had its patent expiration in November 2011 [1], allowing other pharmaceutical companies to produce and sell generic versions of the drug.

According to DrugPatentWatch.com, the introduction of generic Lipitor, also known as atorvastatin, led to a rapid decline in Lipitor's market share [2]. In 2012, the first year after the patent expiration, the market share of Lipitor dropped from 48% to 24% [2]. This decline continued in the following years, with the market share of Lipitor decreasing to 12% in 2016 [2].

The decline in Lipitor's market share can be attributed to the lower cost of generic versions of the drug [3]. Generic drugs are typically priced around 80-85% lower than their brand-name counterparts [3]. As a result, patients and insurance companies have opted for the less expensive generic alternatives, leading to a decrease in Lipitor's market share.

In conclusion, Lipitor's market share has been significantly affected by the introduction of generic competition in the past year. The decline in market share can be attributed to the lower cost of generic alternatives, resulting in a shift from the brand-name drug to the generic versions.

Sources:

1. DrugPatentWatch.com. (n.d.). Lipitor (Atorvastatin) Patent Expiration and Generic Entry. Retrieved from <https://www.drugpatentwatch.com/patent/lipitor-atorvastatin/>
2. DrugPatentWatch.com. (n.d.). Lipitor (Atorvastatin) Market Share. Retrieved from <https://www.drugpatentwatch.com/market-share/lipitor-atorvastatin/>
3. Food and Drug Administration. (2021, January 12). Generic Drugs: Questions and Answers. Retrieved from <https://www.fda.gov/drugs/generic-drugs/generic-drugs-questions-and-answers>