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Pharma Sees Viagra Sales to Fall Down as Exclusivity Expired
By Rahul Gotadki , 14 April, 2023
Viagra has been approved by the U.S. Food and Drug Administration (FDA) to treat male erectile dysfunction. Initially, it was used for hypertension, high blood pressure, and chest pain associated with coronary heart disease.
According to the reports, sildenafil is the generic drug name, later marketed as Viagra. It has been found to induce penile erections sometimes during clinical trials; after that, Pfizer decided to study and sell the drug for erectile dysfunction too. As per the reports, Pfizer's drug became an instant success reaching above $1 billion in global sales in its second year.
North America is the largest region in the erectile dysfunction (ED) drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
In 2013, Pfizer's patent on the usage of sildenafil for erectile dysfunction expired in the European Union. Thus, its success story began to fade even after being a most recognizable drug and often synonymous with sexual performance enhancement. The reports further revealed, at that time, the company in the United States was involved in a patent lawsuit which resulted in the settlement of Teva Pharmaceuticals to launch a generic version of Viagra in 2017.
The loss of exclusivity was seen in major markets such as Japan, Europe, and mainly in the United States, and Viagra sales had a significant effect. Reports have proven that it declined by almost 70 percent between 2012 and 2018. The company's off-patent branded and generic business Upjohn in 2020, which also included Viagra, was spun off later and combined with Mylan to create a new company called Viatris.Viagra's $32.6 Billion Run
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Rahul Gotadki
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