Eliquis Sales to Collapse 98.6% from $14.4bn in 2025 to $205m by 2031
PFE•Global Eliquis sales are forecast to plunge from $14.4bn in 2025 to $205m by 2031, a 98.6% decline driven by European patent expiry in May 2026 and US exclusivity loss in 2028. US revenues face a $231 Medicare cap from January 2026 and a projected 50% drop in 2028.
1. Global Sales Forecast Decline
Eliquis, the apixaban anticoagulant co-developed by Pfizer and BMS, generated $14.4bn in global sales in 2025 but faces a steep revenue decline after patent expiries. Sales are projected to collapse to $205m by 2031, representing a 98.6% drop and a $14.2bn erosion over six years.
2. Ex-US Market Erosion
European exclusivity ends in May 2026, triggering generic entry and tender-driven formulary switches that slash Rest of World revenues by nearly 75% between 2025 and 2027. As ex-US markets lose protection, Eliquis becomes increasingly reliant on its remaining US franchise.
3. US Revenue Impact
In the US, a $231 Medicare price cap on 30-day supplies took effect in January 2026, cutting net revenues ahead of the 2028 patent cliff. When exclusivity lapses in 2028, a near-50% single-year revenue drop is forecast, with US sales accounting for over $10bn of total losses by 2031.
