Australian regulator sues Pfizer over Lipitor sales tactics

|About: Pfizer Inc. (PFE)|By:, SA News Editor

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.