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New Lipitor indication reimbursements ineligible in South Korea

Pfizer will not make a request to the South Korean government to continue reimbursing Liptor when used for newly approved indications

According to local media reports, a spokesperson for US-based Pfizer has said the company will not make a request to the South Korean government to continue reimbursing Liptor (atorvastatin) when used for newly approved indications.

The spokesperson added that current government policy was unlikely to allow reimbursement for the additional indications of Lipitor, but that the company might change its mind should conditions change.

Pfizer made the decision because it was concerned that the government might cut the price of Lipitor later, if reimbursement coverage were expanded. The South Korean government tends to renegotiate the price of drugs after more indications become eligible for insurance reimbursement.

The Korea Food and Drug Administration (KFDA) recently approved six more indications, including stroke and cardiovascular risk reduction for the world's best-selling drug.

In July 2007, Pfizer projected FY07 Lipitor sales to be flat or down as much as five per cent from USD 12.9bn in FY06.

4th December 2007

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