$112.0B of 2025 cardiometabolic blockbuster sales lose US exclusivity by 2037, led by Mounjaro, Ozempic, Eliquis. These 22 public biotechs have 31 cardiometabolic treatments in Phase 3 or filed with the FDA, 7 of them already filed.
2025 sales each company reports from tracked cardiometabolic treatments losing US exclusivity by 2037. Big pharma has spent $24.4B on 8 cardiometabolic acquisitions since 2023. See the deals →
Clean Phase 3 win in post-bariatric hypoglycemia positions avexitide for NDA filing; approval converts a no-revenue rebuilding story into a commercial franchise
Ryoncil's $115M launch year funds the rexlemestrocel-L CLBP Phase 3 bet; the readout determines whether Mesoblast is a commercial platform or a one-product story
REDEMPLO approved in five markets; sHTG label expansion with pancreatitis claim vs. approved olezarsen is next value inflection
NDA filed on a missed primary endpoint; FDA acceptance and then approvability of marginal Phase 3 data are the two sequential tests
vCLAS pivotal data support the filed PMA, but the strategic review makes financing or a transaction the immediate survival test
Ionis has three approved drugs and two fresh Phase 3 wins, but the hepatitis B functional-cure PDUFA is the single event that rerates the stock
MYQORZO approved in US, EU, and UK with Phase 3 wins in two HCM subtypes; commercial ramp and BMS patent litigation are the tests
Dual GLP-1/glucagon agonist with BTD in MASH and Phase 2 AUD win, but approval hinges on 2029 Phase 3 biopsy readout
Four late-stage programs approaching simultaneous approval decisions; encaleret's May 2027 PDUFA with clean Phase 3 data is the first test of whether BridgeBio can convert its pipeline into a multi-franchise rare-disease company
Endoscopic duodenal procedure seeks to solve GLP-1 rebound obesity; pivotal data and financing both arrive before early 2027
IKT-001 enters Phase 3 in PAH fully funded to readout, but efficacy in humans is unproven; enrollment pace and Part A PVR signal are the first tests
NATiV3 Phase 3 readout is the single event that determines whether Inventiva's pan-PPAR bet in MASH justifies its reconstructed balance sheet
Profitable pericarditis franchise funds KPL-387's Phase 3 pivotal trial; approval hinges on randomized withdrawal recurrence data
CARDAMYST approved and launching, but $28M quarterly burn against H2 2027 runway forces commercial ramp to outpace the clock
EU approval of Ubeslo and Evlarco via Menarini; PREVAIL CVOT interim now determines whether obicetrapib reaches blockbuster CV outcomes labeling
FDA independently reviewing non-primary CGM data after Phase 3 miss; upLIFT's 7/8 interim response rate adds a second pathway but neither is confirmed
First-ever approved dermatomyositis therapy just launched; commercial uptake now determines whether a multi-indication TYK2/JAK1 platform compounds or stalls
Divesiran's 88% Phase 2 response rate in polycythemia vera positions Silence for Phase 3, but ~$72M cash and no partner fund the pivotal trial
Oral GLP-1 agonist with Phase 2 efficacy rivaling injectables enters Phase 3, but the oral obesity field is crowding fast
LEVEL Phase 3 miss forces enriched-population retry; FDA Type C meeting will determine whether a subgroup rescue is registrationally viable
Subcutaneous VK2735 Phase 3 fully enrolled in obesity; registrational data will confirm or deny the bull case against entrenched GLP-1 rivals
Cadisegliatin's CATT1 Phase 3 readout will determine whether a BTD-designated insulin adjunct can redefine T1D management
Filed treatments are listed first. This shows where late-stage treatments are being developed, not which companies will be acquired. Pipeline data and summaries from Readouts as of 29 September 2026; companies already acquired are left out.
Other areas: Oncology · Immunology · Vaccine · Infectious disease · Neuroscience · Other areas