Pfizer, Teva reach deal to allow generic Viagra

New York: Pfizer says it reached a settlement with Teva Pharmaceuticals that allows the generic drugmaker to launch a copycat version of its popular erectile dysfunction drug Viagra in 2017. Pfizer says Teva will pay an undisclosed royalty for a license to produce a generic version of Viagra, one of New York-based Pfizer’s best-selling drugs. Viagra generated about $1.14 billion in US sales last year. Pfizer’s patent protecting Viagra from generic competition expires in April 2020, but Teva will be allowed to launch its generic version Dec. 11, 2017. [caption id=“attachment_1292873” align=“alignleft” width=“380”]  Sprout Pharmaceuticals said Wednesday, it has reached an impasse with the Food and Drug Administration over its drug, flibanserin. AP[/caption] Pfizer Inc. had sued Teva in 2010 over the Israeli drugmaker’s plans to introduce a generic version of Viagra. The patent protecting another erectile dysfunction drug, Eli Lilly and Co.’s Cialis, also expires in 2017. PTI