FDA approval of Viagra

Viagra, the revolutionary drug produced by Pfizer for the treatment of erectile dysfunction, received its FDA approval on March 27, 1998. This marked the beginning of a new era in the pharmaceutical market, particularly for Pfizer, as it was set to earn impressive revenue from the sales of this groundbreaking product.

Viagra's initial financial impact

Within the first three months of its launch, Viagra already brought in substantial revenue for Pfizer. Specifically, the drug earned Pfizer $400 million in its first quarter. This immediate success was an indicator of the immense potential Viagra held in terms of generating significant profits for the company.

Viagra's annual sales performance

Over the past two decades, Viagra has been a consistent revenue generator for Pfizer. It has produced annual sales of about $1.8 billion consistently, which reflects its popularity and demand in the market. There was a peak in 2012 when annual sales reached a remarkable $2.1 billion. Thus, Viagra has indeed been a profitable product for Pfizer over the years.

Viagra's global sales impact in 2016

Despite the passage of time, Viagra's appeal did not wane. As of 2016, the drug was still bringing in substantial global sales. That year alone, Viagra contributed around $1.6 billion to Pfizer's global sales.

The effect of patent expiry in 2020 on Viagra's sales

Pfizer had exclusive rights to the brand-name erectile dysfunction (ED) drug Viagra for nearly two decades. The company's hold nearly ran out in 2011, but then it had a later patent legally confirmed. However, the remaining patents on Viagra expired in 2020, leading to a shift in the market dynamics.

The emergence of generic versions of Viagra

The expiry of the patent in 2020 paved the way for the emergence of generic versions of Viagra. This meant that Pfizer now had to compete with other pharmaceutical companies producing cheaper alternatives to Viagra.

Pfizer's strategies to combat competition from generics

Despite the competition from generics, Pfizer was not deterred.

The company launched its own generic version of the erectile dysfunction medicine.

This strategic move allowed Pfizer to maintain a strong position in the market.

Pfizer's sustained market share in the erectile dysfunction market

Even with the advent of generic versions, Pfizer managed to hold onto a large share of the market. In 2021, the Viagra levitra online without prescriptions segment held the highest revenue share of 57.8%. This was in part due to the introduction of its own generic product, demonstrating Pfizer's resilience in a competitive market.

Total revenue generated by Pfizer from Viagra

how much did pfizer make on viagra?All these years of high sales performance have translated into enormous revenue for Pfizer. From its launch until recent years, Viagra has generated billions of dollars for the company. In 2019 alone, Pfizer's worldwide known erectile dysfunction product Viagra generated around 500 million U.S. dollars in revenue. All these figures testify to the monumental financial success that Pfizer has achieved through Viagra.