Pfizer cuts Viagra price in Canada after losing patent case
23 Nov 2012
Pfizer, the world's largest pharmaceutical company yesterday reduced the price of its Viagra in Canada after the country's Supreme Court last month invalidated its patent, opening the door to generic sales of the erectile dysfunction prescription drug that rakes in global sales of $1.93 billion.
The price reduction comes after the Canadian Supreme Court ruled in favour of Israeli generic giant Teva Pharmaceutical Industries and invalidated Pfizer's Viagra patent on the ground that the New York-based company had not provided enough details when it filed its patent in the country, ending Pfizer's 14-year Viagra monopoly in Canada.
Pfizer has now reduced the price in line with generic versions being sold to about $37 for a pack of four Viagra pills, compared to the earlier price of about $49.
Coming down hard on Pfizer, the Supreme Court, in a unanimous 7-0 ruling, invalidated Pfizer's Viagra patent saying that the drug giant tried to "game" the Canadian system.
After having lost in two lower courts, Teva had challenged Pfizer's Viagra patent granted in Canada in 1998 and set to expire in 2014, saying that the drug giant's patent was invalid since it listed several different chemical compounds without detailing the prime active ingredient - sildenafil.
Pfizer's patent on Viagra "does not meet the disclosure requirements set out in the act" Judge LeBel wrote in the ruling." I would therefore allow the appeal with costs and hold that Patent 2,163,446 is void."
