Pfizer plans reduction in Viagra Price as Patents Expire

Pfizer plans reduction in Viagra Price as Patents Expire

Pharmaceutical major Pfizer has planned to launch generic version of Viagra as the patent for its popular erectile dysfunction pills expires. Pfizer will introduce the generic version of little ‘blue pill’ at half of price of its patented medication. The white colored, generic version of Pfizer’s Viagra will be available in the U.S. markets starting Monday.

The patent has already expired in some countries and low-cost generic variants of Viagra could soon flood markets. In year 2016, Pfizer registered $1.6 billion in worldwide sales for its erectile dysfunction pill. The expiry of patent would also impact the sales of original Viagra. The generic version will cost $32 per pill. The pill as launched in 1998 and has been successful in registering strong sales across the world.

Pharmaceutical companies specializing in generic medicines could even launch a cheaper generic version of the pill. Market experts suggest that price of generic version of Viagra could cost up to 90 percent lower as more companies enter the market with their version.

According to health information analytics firm Elsevier, over just the past decade, retail prices jumped from about $10 to $62 per pill for Viagra and from $11 to $61 for Cialis. Pharmacies and other middlemen add a few dollars more per pill.

As the price has jumped over the last few years, the prescriptions for medication have dropped since year 2012. Pfizer says its market research shows 20 percent of customers are loyal to Viagra. So rather than give up sales to generic makers as brand-name drugmakers once routinely did, the company is selling its own generic and also fighting to keep men on its blue pills.

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