Sunday, October 22, 2017 0:56

As Viagra Patent Expires, Chinese Company Creates New ED Generic

Posted by on Monday, November 10, 2014, 11:17
This item was posted in News and has 0 Comments so far.

Blog-Chinese-Company-Creates-New-ED-Generic

Guangzhou Baiyunshan Pharmaceutical Co. launched the healthcare product for ED after an extensive research for more than 10 years, with well-conducted clinical trials and final authorization from the China Food and Drug Administration (FDA). The deputy director of this pharma organization disclosed his exhilaration at the press conference during the launch of their product “JINGE” (actually means gold dagger); he was actually waiting for this precious moment for nearly eleven years.

When did the patent of Viagra expire?

Viagra, the branded version of Sildenafil Citrate (an anti-impotent drug) was invented by a renowned American pharma corporation, Pfizer. In China, the patent of this branded medicine expired on 12th May. Over the past 11 years, this branded erectile dysfunction (ED) drug brought nearly $10 billion of business across the world. Due to China’s restrictive sexual culture, this drug took a lot of effort to enter the country’s market, 11 years ago. Also, at Viagra’s review meeting in 1999, renowned sexologists were worried that this drug would create problem like sexual assault.

But medical advisors at an eminent university claimed that this drug was effective and it proved beneficial for nearly 80% of ED sufferers. At the same time, they found that this drug would help promote harmonious marital relationship and social stability. After positive results of clinical trials, the sale of this ED drug was approved in the year 2000.

After the sale’s approval, this drug did not take the expected pace in the market due to conservative mind-sets of people. A renowned doctor said – they had to promote this medicine to encourage men’s health issue by providing weekly lectures on television for two consecutive years. Also, Pfizer had to carry out promotional event; they hired beautiful women for approaching possible clients at medical stores by saying a catchphrase – “I know you are normal, Sir”. Eventually, this tactic helped in boosting the confidence in Chinese men.

Competitors approach

Until 2004, it was going great and Viagra became a huge success and it gained a strong place in the market; at the same time, the China Food and Drug Administration permitted this drug to be sold over-the-counter. Simultaneously, two other ED drugs were catching up the market – Levitra (Vardenafil) and Cialis (Tadalafil) that were introduced by Bayer and Eli Lilly, respectively.

A Chinese healthcare service analyzed the sales of Viagra in the year 2013, which earned around $145 million as compared to $13 million for Levitra and $50 million for Cialis. According to statistical chart, China has approximately 130 million men who suffer from erectile dysfunction, and very few of them are under conventional treatment for the same. Therefore, experts are expecting a huge business with incredible potential.

The research and development department of Guangzhou Baiyunshan Pharmaceutical is extensively working on developing 40+ drugs and supplements that help curb impotency issue. They launched an herbal product called as “Tiema”, which is sold as a supplementary healthcare food product. According to experts, China’s top companies will enter the market with similar drugs and supplements in near future; thereby, making the competition stiff.

Last year, the company gained around $8.9 billion, which is expected to grow up to $10.6 billion by the end of this year. By manufacturing more ED medications and supplements, the ambition is to reach nearly $16.3 billion within next three years. Also, they are estimating that a strong network with pharmacies and hospitals will help increase the sales.

Guangzhou Baiyunshan’s main advantage is the cost of JINGE. The deputy director said that the price of JINGE for the same dose of that of Viagra will be half. After hearing this, around 24 Chinese pharma corporations are interested in marketing generics of Viagra. In the mean time, the patent of Levitra expires in 2018 and Cialis in 2020. With an approximately $100 billion market share, three renowned foreign pharma organizations have monopolized the business that have to undergo stiff competition with Chinese companies.

Leave a Reply

You must be logged in to post a comment.