PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 24.42

-1.9%

3:59 PM EST

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To: Joe S Pack who wrote (7269)	3/22/1999 4:36:00 PM
From: Anthony Wong	Read Replies (2) of 9523

Switzerland's Health Insurance May Pay for Viagra Bloomberg News Mar 22 1999 11:32AM ET Pfizer Says Switzerland's Health Insurance May Pay for Viagra Zurich, March 22 (Bloomberg) -- Pfizer Inc. said the Swiss Federal Department for Social Insurance recommended that Swiss health-care insurers be obliged to meet their customers' costs of using Viagra, Pfizer's anti-impotence drug. The fourth-largest U.S. drugmaker said it welcomed the decision to end what it calls ''discrimination'' in Switzerland's health-care system against men with erectile dysfunction. Pfizer, which sold 530,000 Viagra tablets -- or one for every 6.4 Swiss men -- worth 5.3 million Swiss francs ($3.7 million) in the drug's first six months on the Swiss market, is aiming to boost sales in a country where it is already one of the fastest-selling prescription drugs. ''Based on calculations by Pfizer, the cost of the drug can be justified within the framework of current medical practice,'' the company said, adding that it hopes the Swiss government follows through on the agency's recommendation and requires private insurance companies to cover the cost of the pills -- about 10 francs each. Viagra became the fastest-growing prescription drug in the world when it was introduced last year in the U.S., Europe and elsewhere on a wave of publicity not seen for any drug since Eli Lilly & Co.'s blockbuster depression drug Prozac. Viagra vies with Roche Holding AG's anti-obesity drug Xenical as Switzerland's fastest-growing prescription drug. About 31 percent of men report they have sexual problems although they rarely receive medical treatment for their condition, according to a study published last month in the Journal of the American Medical Association. Pfizer shares rose 2 1/8 to 142 7/8.

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