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Revenue from Lilly's Zyprexa, which produced more than $5 billion in revenue a year before it got generic competition last October, fell 73 percent from a year earlier to $380 million. Bristol-Myers reported its sales of Plavix, which was the world's second-best-selling drug, plunged by about 60 percent in the quarter to $741 million. That meant sales fell $1.1 billion even though generics didn't hit drugstores until May 17. New figures from health data firm IMS Health show that U.S. prescriptions filled for Plavix nosedived from a monthly average of about 2.2 million to just 199,000 in June. Meanwhile, British drugmaker GlaxoSmithKline PLC, which also released results Wednesday, reported a 6 percent drop in U.S. sales amid generic competition to herpes drug Valtrex and three other medicines. And when Pfizer reports its results next Tuesday, its story will be similar. Lipitor, which once brought in $13 billion a year, got generic competition Nov. 30. Monthly Lipitor prescriptions filled in the U.S. have since dropped from about 3.7 million to 1.2 million in May and then just 673,000 in June. That's when several new generic versions of Lipitor joined the two on sale since December, quickly driving the prices much lower. The Fitch report shows a decline in productivity of drugmakers' research programs over nearly two decades. The FDA approved about 55 new drugs in 1996, about 35 in 2004, and about 20 per year since then until the bump to 30 last year.
[Associated
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