Pfizer (PFE 0.23%) will provide patients of Roman, a men's health subsidiary of the privately held digital health company Ro, with the only Pfizer-authorized generic version of Viagra, a blockbuster erectile dysfunction treatment.
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Under the deal, Pfizer's U.S. generic subsidiary, Greenstone, will provide generic Viagra to Roman patients following a telehealth consultation with one of Roman's licensed physicians. This is the first time that Greenstone is collaborating with a direct-to-patient health company.
Viagra won Food and Drug Administration approval in 1998 and it grew into one of the world's best selling medications, with global sales in excess of $2 billion at their peak in 2012. Generic drugmakers, including Teva Pharmaceutical (TEVA 1.01%) and Mylan (MYL) have been marketing generic versions of the drug since 2018, but Greenstone is the only manufacturer authorized to produce pills in the same plant as Pfizer's brand name drug. In Q3, 2019, Pfizer reported global Viagra revenue of $120 million, including $20 million in the United States.
The agreement is significant because men are 24% less likely to go to a doctor over a one-year period than women and according to the companies, only one quarter of the 30 million American men experiencing ED are getting treatment. By providing access to generic Viagra through an online doctor's visit, the companies hope to break down barriers preventing men from consulting with their doctor about ED, while also ensuring patients receive a high-quality product, as Viagra is one of the most counterfeited drugs in the world.
