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5 Blockbusters Falling Off Patent Cliff in 2016

Crestor
Crestor

Manufacturer: AstraZeneca

Prescribed for: Treatment of high cholesterol

U.S. patent expiry in: May 2016

Approved by the FDA in 2003, Crestor is the top selling drug of AstraZeneca, which generated sales of $5.02 billion in 2015. This cholesterol medication accounted for 20% of the company’s total sales last year.

The highest ever sales recorded by Crestor was $6.62 billion in the year 2011.
With Crestor to go off patent next month, AstraZeneca foresees a low to mid single-digit percentage decline in total revenue and a low to mid single-digit percentage decline in core EPS in 2016.

Crestor, which belongs to a group of drugs called statins, works in 2 ways – by lowering “bad” cholesterol (LDL-C) and increasing “good” cholesterol (HDL-C).

Waiting on the wings: Actavis, Apotex, Aurobindo, Glenmark, Mylan, Par, Sandoz, Sun, Teva and Torrent are expected to launch their generic version of Crestor next month.