1 April 2028
Generic Eliquis can launch in the US
Settlements let most of the original 25 generic filers launch from this date; the three that lost in court must wait for a patent expiring in 2031.
When does Eliquis go off patent?
In the US, generics can launch from 2028. Eliquis is sold by Bristol Myers Squibb and Pfizer. US generics barred until 1 April 2028 after patent win and settlements. EU generics earlier. Sales as reported by BMS; Pfizer separately books $8.0B of alliance and product revenue.
Eliquis's US exclusivity date is based on settlement / court date. Litigation settlements or a court ruling fix the earliest US entry date, which makes it one of the firmer dates in this tracker. It is a small-molecule drug, so copies are generics. Generic launches usually take most of the US volume within months.
| Patent or protection | Covers | Expiry |
|---|---|---|
| US 6,967,208 | Apixaban itself and the drug product | 21 May 2027 |
| US 9,326,945 | The tablet formulation | 24 August 2031 |
| New patient population exclusivity | An approved use (FDA exclusivity, not a patent) | 17 October 2028 |
The compound patent, with six months of pediatric exclusivity, runs to May 2027. Generic makers that settled with BMS and Pfizer may launch in 2028; others lost at trial and on appeal. In November 2025 Azurity filed to sell an apixaban product challenging the 2031 formulation patent but not the compound patent, and BMS and Pfizer sued. In Europe the compound patent and its extensions expire in November 2026, and generics are already on sale in some countries while litigation continues.
Sources: FDA Orange Book: Eliquis patents · BMS 10-K 2025
| Year | Worldwide | US | Growth |
|---|---|---|---|
| 2023 | $12.21B | $8.48B | – |
| 2024 | $13.33B | $9.63B | +9% |
| 2025 | $14.44B | $10.24B | +8% |
Worldwide net sales as reported, with the US share. Source: BMS 10-K 2025 and 2024 (BMS-reported sales; Pfizer shares profits)
Approved, waiting to launch The FDA approved the first generics in December 2019 and has approved more than a dozen since. Settlements let most of the original 25 generic filers launch from 1 April 2028; the three that lost in court must wait for a patent expiring in 2031.
| Company (product) | Stage |
|---|---|
| Micro Labs | FDA-approved 23 Dec 2019, not marketed |
| Mylan (Viatris) | FDA-approved 23 Dec 2019, not marketed |
| Accord | FDA-approved 28 Jul 2020 |
| Regcon | FDA-approved 11 Sep 2020 |
| Lupin | Tentatively approved Sep 2026. Apixaban oral suspension, a new liquid form rather than a copy of the tablets |
| Other settled filers | Filed with the FDA; settled; US entry allowed from 1 Apr 2028 |
Checked October 2026. Sources: FDA: first generics of Eliquis · FDA Orange Book: Accord · Lupin: oral suspension · Pfizer 10-K 2025
Among past small-molecule drugs facing unrestricted generics, US sales in the first full year after copies arrived were a median 18% of the last full year before (range 0% to 48%, 10 drugs), and 6% by the third year (8 drugs). Where settlements limit generic volumes, as with Revlimid, the decline is slower. Every drug is different: settlements, how many copies launch, and pricing all change the curve. See the erosion benchmarks →
| Scenario | 2025 US sales | Year 1 (about 2029) | Year 2 | Year 3 |
|---|---|---|---|---|
| Fastest past case | $10.2B | $0.00B0% | $0.00B0% | $0.08B1% |
| Median | $10.2B | $1.83B18% | $0.73B7% | $0.59B6% |
| Slowest past case | $10.2B | $4.91B48% | $2.53B25% | $1.78B17% |
An illustration, not a forecast: it applies the past-cliff benchmarks to Eliquis's 2025 US sales, held flat until copies arrive in 2028. Year 1 is the first full year with copies on sale.
Eliquis was selected for the Medicare Drug Price Negotiation Program. Its negotiated Medicare price takes effect in 2026, 56% below its list price. That is 2 years before US generics can launch, so Medicare revenue comes under pressure first. The discount is measured against list price, before the rebates drugmakers already pay, and applies to Medicare only, so the revenue impact is smaller than the headline number. See every negotiated Medicare price →
Eliquis is 30% of Bristol Myers Squibb's 2025 revenue ($14.4B of $48.2B). With Pomalyst, Opdivo and Reblozyl, the drugs tracked here add up to 61% of Bristol Myers Squibb's revenue losing US exclusivity by 2031.
Eliquis is 13% of Pfizer's 2025 revenue ($8.0B of $62.6B). With Ibrance, Xtandi, Vyndaqel and Prevnar 20, the drugs tracked here add up to 43% of Pfizer's revenue losing US exclusivity by 2035. Eliquis and Xtandi are Pfizer's reported alliance and product revenue ($8.0B, $2.2B).
Bars show each company's tracked drugs as a share of its total 2025 revenue. Eliquis is highlighted.
Settlements let most of the original 25 generic filers launch from this date; the three that lost in court must wait for a patent expiring in 2031.