Patent cliff hits export figures

The patent cliff continues to eat into exports as a number of high-profile drugs, including Lipitor and Viagra, left Irish export figures drooping.

The CEO of the Irish Exporters’ Association, John Whelan, said that Pfizer reducing the price of Viagra as it came off patent in the UK had hit the Irish export figures severely.

“Viagra came off of patent in the UK which meant that Pfizer had to reduce prices to fend off the generics manufactures,” he said.