Pfizer Canada reduces Viagra cost in wake of Supreme Court ruling - Yahoo! News

TORONTO - Pfizer Canada says it's reducing the price of Viagra, bringing the cost in line with generic versions.

The move follows a ruling from the Supreme Court of Canada that invalidated the Viagra patent held by the pharmaceutical giant.

The Nov. 8 decision threw open Canada's market for generic erectile dysfunction drugs.

Scott Wilks of Pfizer Canada says the decision to lower the cost reflects the company's commitment to ensuring patients have access to the original Viagra at a competitive price.

The Canada-wide price reduction is effective immediately.

The Supreme Court, in an unanimous 7-0 ruling, annulled Pfizer's Viagra patent, saying it tried to "game" the Canadian system.

The high court sided with Teva Canada's challenge of the legitimacy of the patent, paving the way for generic versions.

The decision has big implications for users of erectile dysfunction drugs and the pharmaceutical industry because it allows companies to create generic versions, which are usually cheaper for consumers.

Pfizer obtained the patent in 1998 after applying four years earlier. It was first challenged by the generic drug maker in 2007.

Teva originally questioned Pfizer's patent in Federal Court and the Federal Court of Appeal, but lost at both levels.

The ruling wiped out Pfizer's market dominance with Viagra. Its patent had been scheduled to expire in 2014.

via news.yahoo.com

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