With the April 2020 expiration of Pfizer’s U.S. patent on Viagra, prices for the drug are likely to soften further. That expiration should open the door to increased generic competition for the iconic little blue pill.
It’s coming. When Pfizer’s patent on Viagra expires in April 2020, U.S. customers should be able to save big on the male impotence drug. That’s because other manufacturers are certain to rush to market with a number of less expensive generic alternatives.
This could signal the start of a global price competition with consumers as the real beneficiaries. But did you know there are two generic versions of Viagra that are already on the market?
An Alternative to Viagra?
Teva Pharmeceuticals USA Inc. reached a deal with Pfizer in 2016 to offer the first generic version of Viagra. That generic, marketed simply as sildenafil citrate, was released in early December of 2017. Almost simultaneously, Greenstone LLC, a wholly owned subsidiary of Pfizer, released its generic formulation of Viagra.
Both companies are hoping to capture at least a portion of the U.S. demand for Viagra from consumers who would prefer to spend a little bit less. With Pfizer’s patent protecting it from additional generic competition expiring in the next couple of years, other companies, are sure to offer alternatives.
This is not the first time this has happened to Pfizer; once it lost its patent for Lipitor, the world’s best-selling drug for high cholesterol, lower-priced generics ended up costing Pfizer about $4 billion – and counting.
The American Journal of Medicine reports that more than 18 million men suffer from male impotence. Therefore, the real beneficiary of all this medication wrangling is the American consumer.
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