Pfizer to launch generic version of Viagra at $33 per pill

Pfizer will release a generic version of Viagra to U.S. consumers once its patent for the drug expires Dec. 11, MLive reports.

While the brand-name drug, launched in 1998, retails at $65 per pill, Pfizer said the generic version will sell for about half the price per pill.

Retail prices for Viagra and its main competitor, Cialis — manufactured by Eli Lilly — have skyrocketed during the past decade. The cost per pill for Viagra jumped from $10 to $62, with the cost of Cialis increasing from $11 to $61 per pill, according to MLive.

However, experts suggest the cost of Pfizer's generic Viagra will decrease as more versions of the drug go on sale next summer.

As of March 2016, at least nine other pharmaceutical companies had submitted applications for FDA approval of their generic formulas, the report states.

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