But human growth hormones and a handful of other drugs using recombinant gene technology are already off patent.

Drugs worth some $13 billion in sales over the next three years are coming off patent in that period.

"They're using older drugs that are already off patent in China," he said.

Finally, there are precedents for private companies developing drugs off patent.

But by the time Lipitor goes off patent, the market will be on to something else.

It is far more profitable than the other two, which are now off patent and available in generic form at much lower cost.

Phenylephrine has been off patent for some time, and there are many generic brands available.

About $8 billion came off patent in 2005, and almost double will come off in 2006.

"We're talking about drugs that are off patent, but don't have any price competition."

"In about three years, many important drugs are coming off patent," he said.