Global sales of Bristol Myers Squibb’s (BMS) and Pfizer’s drug Eliquis (apixaban) are projected to decline by 15.2% in 2026 due to the loss of its European market exclusivity on May 19, 2026, according to GlobalData, a leading intelligence and productivity platform.

According to GlobalData’s Pharmaceutical Intelligence Center Sales and Forecast Database, the BMS-Pfizer alliance has dominated the anticoagulant drug market, with Eliquis’ global sales reaching approximately $82.6 billion and recording a compound annual growth rate (CAGR) of 108.3% since its emergence in the European market in May 2011. However, with the expiry date fast approaching, the loss of Eliquis’ exclusivity will inevitably mark the beginning of a major patent cliff.

Katia Djebbar, Pharma Analyst at GlobalData, comments “GlobaData’s Sales and Forecast database clearly reflects the impending and rapid entry of generics to the European market upon loss of exclusivity. Despite retention of US market exclusivity until 2028, which will only slow the overall global decline, generic entry will likely knock down Eliquis from its almost decade-long reign as the world’s leading anticoagulant.”

The second-generation direct oral anticoagulant (DOAC) Eliquis has revolutionized thromboprophylaxis through its significantly higher safety profile and reversibility during emergencies, setting it apart from traditional anticoagulants such as warfarin. As such, it has taken over as recommended first-line treatment or prophylaxis of various cardiovascular diseases, including pulmonary embolism and non-valvular atrial fibrillation, contributing to its reigning dominance in the market.

Djebbar continues “Eliquis’ sales are forecast to peak at just under $14.2 billion in 2025 and are predicted to decline by 92.3% by 2030 in comparison to 2025. BMS and Pfizer have made attempts to extend Eliquis’ market exclusivity, which was initially set to expire in September 2022, via a supplementary protection certificate (SPC) filing. Fortunately, this extension has allowed for the generation of approximately $29.5 billion so far in additional revenue, effectively delaying the impending patent cliff.”

With US patent expiry expected in 2028, BMS and Pfizer are attempting to retain US market share through their direct-to-patient Eliquis option, which they announced in July 2025. This program will provide underinsured, uninsured, or self-pay American patients a reduction of over 40% for their prescriptions.

The program, which came into effect in September 2025, aims to mitigate incoming competition and expand Eliquis’ market access by targeting cash-paying patients, who constitute approximately 10% of the patient population, according to the CDC. It remains to be seen what real impact this will have on the market and whether attempts to slow declining sales will be successful.

Djebbar concludes “May 19 will mark the start of a major transformation in the European anticoagulation market. The entry of generics is expected to result in a rapid decline in Eliquis’ sales. BMS and Pfizer may be able to soften the blow to their US market share in the next two years, but time will tell if that will be enough to curb the forecast drop in sales following the eventual loss of global exclusivity.”

 GlobalData operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change.​ By uniting proprietary data, human expertise, and purpose-built AI into a single, connected platform, we help organizations see what’s coming, move faster, and lead with confidence.​​ Our solutions are used by over 5,000 organizations across the world’s largest industries, delivering tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth