Viagra's introduction and FDA approval (March 27, 1998)

Viagra, an oral medication for treating impotence, was introduced to the market on March 27, 1998, after receiving approval from the Food and Drug Administration (FDA). This groundbreaking drug became the first oral treatment approved for erectile dysfunction, revolutionizing the way this condition was managed.

Pfizer's patent of sildenafil citrate (1996)

Pfizer, a leading pharmaceutical company, patented sildenafil citrate, the active ingredient in Viagra, in the United States in 1996.

Initially developed for the treatment of hypertension and angina pectoris, sildenafil citrate later showed promise as an effective treatment for erectile dysfunction in the early 1990s.

The impact of Viagra's launch on the pharmaceutical market

Since its introduction, Viagra has had a significant impact on the pharmaceutical market. By the end of 1999, Viagra had already generated more than $1 billion in revenue for Pfizer. The drug quickly became ubiquitous, with 62 million men worldwide using it by 2017. In the United States alone, nearly 200,000 prescriptions were being filled each week by 2000, with 17 million Americans having used it.

Newsweek's recognition of Viagra (June 1998)

Newsweek recognized the importance and popularity of Viagra in June 1998, calling it a "blockbuster drug" that had a significant influence on the market. Its popularity was comparable to that of Prozac, an anti-depression medication introduced in 1987.

Viagra's sales growth and revenue in the U.S.

and globally Viagra's sales have continued to grow since its launch, bringing in about $1.6 billion in global sales in 2016. By 2008, it had reached $2 billion in annual sales. Over the years, Viagra has been prescribed to more than 64 million men worldwide.

The decrease in Viagra prescriptions since 2012

Despite its immense popularity, Viagra prescriptions have decreased by more than 20% since 2012. This decline can be attributed to factors such as price hikes and increased competition from generic versions of the drug.

The rise of generic versions of Viagra and their impact on the market

The introduction of generic versions of Viagra has had a significant impact on the market, offering more affordable alternatives to the brand-name drug. As a result, the market share of Viagra has decreased, but the drug remains an important and widely-used treatment for erectile dysfunction.