Novartis AG (NVS) Drug Diovan Retains 69% of Prescriptions in U.S.
10/16/2012 8:14:03 AM
Novartis AG (NOVN) has held onto 69 percent of Diovan HCT prescriptions in the U.S. since since the heart drug, its best-selling product, lost patent protection in the country last month. The Swiss drugmaker retained U.S. market share by introducing its own branded copy through the Sandoz generics unit, Asthika Goonewardene, a London-based analyst for Bloomberg Industries, said in a note to clients today. U.S. prescriptions for Diovan HCT, a combination of Diovan and a diuretic, have dropped by 64 percent since Mylan Inc. (MYL) and Sandoz each introduced a copy of the pill more than three weeks ago, Goonewardene said. The Mylan product has taken 47 percent of the generic market, while the drug made by Sandoz holds 53 percent, he said. “Novartis is smart in that they’ve put their own version out,” Goonewardene said in a telephone interview today.
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