Dive Brief:
- Although overall global sales of Pfizer's Viagra (sildenafil) decreased by 24%, sales in China spiked 47%.
- Increased sales of Viagra in China are based on several factors, including changing cultural trends related to China's economic boom, as well as Pfizer's extensive patient education around erectile dysfunction (ED) and an overall looser attitude about sex in China.
- Sales of Viagra have decreased because of the impact of patent expiry.
Dive Insight:
Whereas before, Chinese men relied on traditional remedies, such as deer antler and caterpillar fungus to address ED, they are now more likely to embrace a pharmacologic option, such as Viagra, than ever before.
In fact, overall, there is more uptake of mature drugs in China with sales of mature drugs rising 18% in 2014. Like men everywhere, Chinese men suffer from ED. Based on Pfizer's prevalence stats, roughly 28% of men in China between the ages of 30 and 60 are affected by this disorder. That translates into a total population of 68 million men in China with ED, which bodes well for Pfizer, considering the fact that it controls 60% of the ED market.
Even so, Viagra is not the only game in town in China. There is a local generic competitor known as Golden-Dagger Ax, which costs 60% less than Viagra—and there is also competition from other well-known brands, including Cialis (tadalafil).