March 07, 2003
European regulators approved Bayer (NYSE: BAY) and GlaxoSmithKline’s (NYSE: GSK) Levitra (vardenafil) for the treatment of erectile dysfunction (ED). Levitra will compete not only with Pfizer’s (NYSE: PFE) Viagra, but also with Eli Lilly (NYSE: LLY) and ICOS’s (NASDAQ: ICOS) Cialis, which was launched recently in Germany and England, and is approved throughout Europe.
Although neither Cialis nor Levitra are available in the U.S., we expect both drugs to be approved this year. A fierce marketing campaign promoting these three drugs will likely follow these approvals. In addition, Pfizer has filed suit against its rivals in October 2002 claiming that its intellectual property includes the use of all PDE5 inhibitors for the treatment of ED. Levitra, Viagra, and Cialis are all PDE5 inhibitors.
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