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Australian regulator sues Pfizer over Lipitor sales tactics

  • The Australian Competition & Consumer Commision (ACCC) has sued Pfizer (PFE) for the alleged violation of antitrust rules in the marketing of Lipitor.
  • The ACCC said that prior to the expiry of Lipitor's patent in May 2012, Pfizer offered "significant" discounts and rebates to pharmacies if they stocked at least a year's worth of the cholesterol-lowering treatment.
  • Lipitor generated annual revenues of over A$700M ($632.35M) in Australia before the drug's IP expired.
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