UK drugs giant GlaxoSmithKline and German pharmaceutical Bayer have received European Commission approval for their anti-impotence drug Levitra, their rival to Pfizer's Viagra.
'Bayer and GSK anticipate launching Levitra as soon as possible in European markets,' Bayer said in a statement.
Levitra is Europe's second Viagra challenger since its came on the market five years ago. Last year the product generated $1.74 billion in sales for Pfizer.
US firms Eli Lilly and Icos launched the first rival treatment, Cialis, in Britain, Germany and Australia last month.
Bayer, which developed Levitra, and marketing partner GSK, did not say in which countries they would launch the drug first. They hope to generate annual peak sales of more than €1 billion for the drug.
Bayer hopes Levitra will strengthen sentiment towards its pharmaceutical division, which took a big setback last year after the recall of its cholesterol-fighting drug Baycol.
