Global drugmakers losing share in Russian market for erectile dysfunction drugs
Global drugmakers are losing their market share in the Russian market for erectile dysfunction drug, which is rapidly being taken over by local players, reports The Pharma Letter’s local correspondent.
According to Forbes Russia, in fourth quarter 2023, local brands increased sales of such drugs by 12%. At the same the volume of imports has also increased, although the market has lost its largest players. This is mainly the USA-based Viatris (Nasdaq: VTRS), which stopped supplying the original Viagra (sildenafil) to Russia.
In fact, the Russian Ministry of Industry and Trade announced the cessation of supplies of Viagra on February 15, 2023. Almost immediately, Russians began to buy the already imported drug in large volumes. At that time, the American company Eli Lilly (NYSE: LLY) announced that it would also stop exports of all drugs to Russia that are not vital. The decision affected another popular erectile dysfunction drug Cialis (tadalafil).
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