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
Latest News
Renewables are in high demand in the energy market in 2024. It is due to a clean energy transition that requires a constant flow of renewables in the energy market. The green transformation to combat climate change brings about several environmental…
Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…
Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…
Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…
China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…
Assistant Manager