Dive Brief:
- The FDA on Thursday approved the first U.S. generic version of Pfizer's Viagra, the blockbuster erectile dysfunction treatment. Made by Teva, the generic version will go on sale on December 11, 2017.
- Teva will be able to sell its generic sildenafil citrate in 25 mg, 50 mg, and 100 mg pills.
- A number of other companies have applied for the rights to manufacture generic Viagra, which loses patent protection in 2020. Pfizer reached a settlement with Teva in December 2013 allowing Teva to launch its generic version in 2017.
Dive Insight:
The good news continues for Teva. Fresh from winning European Commission approval for its $40.5 billion generics deal with Allergan, the approval of its generic Viagra further bolsters Teva's strong generic presence.
Viagra earned Pfizer nearly $1.3 billion in revenue last year, with 97% of that coming from the U.S. market. While other companies will eventually be allowed to sell generic Viagra, Teva will be first in the door to win some of that U.S. market share.
Per the 2013 settlement, Teva will pay Pfizer royalties for its generic license.