Hanmi set to dominate national impotence drug market

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Hanmi Pharmaceutical will likely dominate the erectile dysfunction treatment market, split into sildenafil (original: Viagra) and tadalafil (original: Cialis).


Hanmi will likely strengthen its leading position in the Korean erectile dysfunction market with two genetic drugs, Palpal and Gugu.


The company has dominated the sildenafil market with Palpal, a generic Viagra, and claims nearly the largest market share for tadalafil, market sources said on Monday.


According to IQVIA, a drug market research institute, the domestic erectile dysfunction treatment market size in the first quarter was 27.7 billion won ($22.1 million), an increase of 9 percent. compared to 25.4 billion won in the same period last year.


According to industry data, sales of most other impotence drugs also increased from a year ago.


Hanmi’s Palpal maintained its leading position, with sales increasing 2% from 5 billion won to 5.1 billion won. Chong Kun Dang’s Cendom, the second most popular brand, saw sales rise 6% from 2.5 billion won to 2.7 billion won during the same period. This was followed by Hanmi’s Gugu, whose sales increased by 22%, from 2.1 billion won to 2.5 billion won.


Cendom and Gugu are generic versions of Lily’s Cialis.


As Gugu grew rapidly, the difference in sales between Gugu and Cendom narrowed sharply in the first three months.


The sales gap between Cendom and Gugu was 1 billion in the first quarter of 2019, but the recent sales surge narrowed it to 200 million won three years later.


Considering Gugu’s upward trend, industry insiders expect Gugu to surpass Cendom’s sales by the end of this year.


“If Gugu overtakes Cendom to become the second-largest product, Hanmi will own both the first and second-largest products in the erectile dysfunction treatment market,” said an industry insider, asking to remain anonymous. “This means that Hanmi will dominate the generic market for Viagra and Cialis.”


By contrast, brand name drugs from multinational pharmaceutical companies remained mired in a deep sales slump.


Viatris Korea’s Viagra, once considered the king of erectile dysfunction treatment, recorded sales of 2.5 billion won in the first quarter, ranking fourth in Korea.


Viagra has steadily lost market share after losing the lead in 2013 to Palpal, second place to Cendom in 2018 and third place to Gugu in 2021. Viagra sales nearly halved in the process.


Lilly’s Cialis retained the fifth position in the first quarter after recording sales of 1.7 billion won.


The drop in sales comes even though Lilly signed a contract with Handok, a former business partner, in 2018, leaving the latter to take over national distribution, marketing and sales of Cialis.


However, Lilly hasn’t seen a rebound since.

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