Health and Healthcare
Viagra Price Drops 50% as Drug Faces Competition
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Viagra, the wildly successful erectile dysfunction pill, faces challenges from a generic version that will launch next year, and direct competitors Levitra and Cialis. In the face of these, Viagra has started a promotion that offers 50% off a patient’s next three prescriptions.
The offer does come with some fine print:
In order to redeem this savings offer, you will need a prescription for VIAGRA from your doctor. You can redeem your savings offer at your local or preferred online pharmacy. Or, if you already have a prescription, you can redeem this offer today through VIAGRA home delivery. With VIAGRA home delivery, you get the convenience and privacy of ordering from your home.
The home delivery part is certainly a plus.
In March, the mammoth generic drug company Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) got approval to market a generic version of Viagra. Teva already had FDA approval of its product. Due to a deal between Pfizer Inc. (NYSE: PFE) and Teva, the product will not come on market until the end of 2017. That leaves only 18 months for Pfizer to sell Viagra without generic competition. After that, it faces the Teva drug, which almost certainly will have a lower price.
The siege of Viagra has already started. Cialis is marketed by pharmaceutical giant Eli Lilly and Co. (NYSE: LLY). Promotions for the drug are also aggressive:
With the CIALIS Savings Card, eligible patients receive $200 off the cost of their prescription(s) for a 30-day supply of CIALIS.
Savings Card is for new patients only. If you used a Savings Card or a 30-Day Free Trial Offer in the past, you are not eligible to use the Savings Card. Only one Savings Card per person may be redeemed.
That’s a shame for loyal customers who have used Cialis for some time and are now being shunned.
Levitra is marketed by GlaxoSmithKline PLC (NYSE: GSK), another drug behemoth. Levitra also offers discounts, but these only some after answering a questionnaire, a hurdle that probably makes the promotion less attractive.
Viagra for 50% off. Take it while it lasts.
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