Pfizer
Clearly, a switch would have given Pfizer a huge boost in sales. Men are often embarrassed to talk to their doctors about erectile dysfunction -- 30% of potential patients in Europe avoid the subject, according to Pfizer. This dampens sales of Viagra, Eli Lilly's
It's the Committee for Medicinal Products for Human Use (CHMP) that was reviewing Pfizer's application.
There were "some concerns regarding the proposed supply," according to Pfizer. Quoted CHMP statements, reported by the BBC, indicate that EU officials were worried that the little blue pills might fall into the hands of people who shouldn't be using them -- specifically men who shouldn't take Viagra for medical reasons. ED can be an early warning sign of cardiovascular disease, for instance. In addition, there is the potential for abuse.
While switches from prescription to over-the-counter status are fairly common in the U.S. -- Johnson & Johnson's
Pfizer is considering how to address the EU officials' concerns and may resubmit the application, but investors shouldn't hold out hope. The EU is likely to continue to favor the safety of the minority over the awkwardness of the majority.
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