The very famous pharmaceutical company in China i.e. Guangzhou Baiyunshan Pharmaceutical Co. has introduced a healthcare product for erectile dysfunction known as JINGE. This product has been launched after a period of ten years after doing lots of research and clinical trials. The medicine has also got the final approval from the China FDA (Food and Drug Administration) Department.
During the launching time of JINGE product at the press conference, the deputy director of this pharmaceutical company revealed his excitement that he was really looking for this priceless moment from around11 years.
At what time the patent of Viagra got expired?
Well! As you know that the Viagra is the patented version of the anti-impotent drug known as Sildenafil Citrate which was created by a popular American pharmaceutical corporation i.e. Pfizer. Recently the patent Viagra medicine got expired in China on 12th May.
From more than last eleven years, this ED medicine has fetched around the bushiness of $10 billion across the entire world. Everybody is familiar with the fact that China possesses a very constricting sexual belief which might not allow any ED drug to enter its market easily. But Viagra has managed to do so and existing in the china’s market from past 11 years successfully.
Different Views of Chinese regarding the Viagra
In the year 1999, the Viagra’s review conference was held. In this meeting, the famous sexologists show their concern about this drug that it would generate issues like sexual assault among the people.
On the other hand, the health counselors at a renowned university appealed that Viagra turn out to be very effective for the ED victims and around 80% of them has been cured with this medicine. Simultaneously, some of the medical professionals also state that this medicine will benefit in promoting the social stability and pleasant marital relationship. Thus, after doing some clinical trials which provided lots of positive outcomes, the government of China permitted the trade of Viagra for curing ED in the year 2000.
But even after getting the approval for trade, this medicine did not become so much success as expected due to the conservative thinking of people. Then, a famous doctor decided to endorse this drug to boost the issue of men’s health problem by delivering weekly lectures on TVs for 2 succeeding years. Similarly, the Pfizer also take the charge of carrying out the advertising campaign for this medicine in China.
Approach of Rivals
Viagra became one of the hugely successful drugs in China until the year 2004 and was making a robust position in its market. Simultaneously, the FDA department of China also allowed this medicine for trading over-the-counter. At the same time, there were 2 some other ED drugs i.e. Cialis (Tadalafil) and Levitra (Vardenafil) were also presented in the market by the pharmaceutical companies Eli Lilly and Bayer correspondingly.
In the year 2013, one of the healthcare service providers of China evaluated the trades of Viagra which shows that it has earned $145 million in comparison to the $50 million for Cialis and $13 million for Levitra. As per the statistical graphic representation, China has around 130 million males who suffer from the problem of ED (erectile dysfunction) and there are very fewer men who are having the conventional cure for it. So, specialists were looking for an enormous trade with an incredible prospect.
Potential of new ED generic and other herbal supplements
The Guangzhou Baiyunshan Pharmaceutical’s R & D department is currently working to produce more than forty drugs as well as supplements which benefit in reducing the impotency problem in men. Recently the company has also introduced an herbal supplementary product known as “Tiema”. As per some of the experts, the top companies of China will enter the marketplace with same supplements in coming times so that the competition can become stiffer.
In the previous year, the Guangzhou Baiyunshan Pharmaceutical company has grown its business for nearly $8.9 billion which is likely to raise up to $10.6 billion by this year’s end. The main motive of the company is to make its business grow to around $16.3 billion in the period of subsequent three years. It also wants to increase its sales by making some strong connection with pharmacies as well as hospitals in the coming future.
The generic drug “JINGE” which is made by the Guangzhou Baiyunshan’s is a cost effective product to buy. The deputy director of the company has declared that they will keep the cost of their product to half the price of the Viagra. In fact, the patent of the competing medicines i.e. Cialis and Levitra will also get expires soon till 2020. We can say that all the above three companies have taken over the business along with the$100 billion market share in China which cannot be broken soon.
