Friday, June 21, 2013
Elder of ZiyonTeva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) will soon launch a generic version of Pfizer Inc.'s Viagra in the UK and other European countries, sources inform "Globes." The impotence treatment is one of the world's bestselling drugs. Pfizer's Viagra sales reached $2 billion in 2012, half of this in the US.
In the UK and other countries Viagra's patent expires this weekend, allowing Teva (and other generic manufacturers) to launch a generic version. Teva has confirmed that it plans launching a generic version called Sildenafil in the European countries where the patent expires.
In the US, Teva has been prevented from launching a generic version of Viagra by a court ruling that the patent is valid until 2020. However, Teva did launch a generic version in Canada several months ago following a positive ruling after five years of legal proceedings.
According to reports in the UK, in 2012 alone, 2.3 million prescriptions were written for the drug, costing the National Health Service £40 million. The price of the drug will be reduced from £10 to £1 when generic versions are launched.
This will give the Palestinian Arabs more potential conspiracy theories. Remember sex gum?
Then again, Hamas has more than a passing familiarity with Viagra.
Poor Gazans will now have a legal way of getting the impotence drugs they crave so much.
The market for this is obviously only going to grow.
(h/t NotAntiSemitic)
