Major pharmaceutical players, including Merck, Bristol Myers Squibb (BMS), Johnson and Johnson, Pfizer, and Novartis, are expected to experience significant revenue losses as several of their blockbuster drugs approach patent expirations, according to a new report by Research and Markets.

Titled "Blockbuster Drugs on Patent Cliffs", the report has warned that the period between 2025 and 2030 could be one of the biggest patent cliffs since 2010 from a loss of revenue perspective.

The blockbuster drugs losing market exclusivity between 2025 and 2030 include Merck's Keytruda, Bristol Myers Squibb’s (BMS) Eliquis, and Johnson and Johnson's Darzalex/Faspro. These drugs were among the top 15 selling drugs in 2024 but are forecast to generate a fraction of those sales in 2030.  

Keytruda (pembrolizumab) is a medication used to treat 18 types of cancer, including non–small cell lung cancer (NSCLC), head and neck squamous cell cancer (HNSCC), and melanoma. While its US patents extend until 2036, it will lose protection in Europe by June 2028, potentially impacting global sales.

Eliquis (apixaban), marketed by BMS and Pfizer, is an oral anticoagulant (blood thinner) used to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation and to prevent and treat blood clots in the veins of the legs and lungs (venous thromboembolism). The generic entry for Eliquis in the US is expected from April 2028.

Johnson and Johnson's Darzalex (daratumumab) and Darzalex Faspro (daratumumab and hyaluronidase-fihj), used to treat multiple myeloma, are set to lose their primary U.S. patents in 2026.

Novartis’s heart failure drug Entresto (sacubitril/valsartan) lost its pediatric exclusivity in the US in July 2025. This year, the company will also see patents expiry for two other major products—Promacta (eltrombopag) and Tasigna (nilotinib).  

Other drugs nearing the end of their patent life include: Eylea, a drug marketed globally by Regeneron and Bayer used for age-related macular degeneration and diabetic retinopathy; Pfizer’s breast cancer drug Ibrance (palbociclib); Xarelto (rivaroxaban) - an anticoagulant co-developed by Bayer and Johnson and Johnson’s Janssen Pharmaceuticals (now Innovative Medicines); Eli Lilly’s popular diabetes treatment  Trulicity, Roche’s multiple sclerosis drug Ocrevus (ocrelizumab) and Amgen’s bone cancer therapy Prolia/XgevaIt (Denosumab).

The report projected that top companies like BMS, Pfizer, and Novartis could see up to a 62 percent drop in revenue from their top five products by 2030

To offset patent cliff losses, some pharma companies, such as Eli Lilly, have strengthened their pipelines, with revenue projected to grow by 165 percent by the end of the decade.

The report highlighted various strategies pharma companies can adopt to mitigate the impact of patent cliff losses, such as mergers and acquisitions, increased investment into research and development, life cycle management, and the use of patent thickets, with each approach offering potential benefits.

“Companies must carefully choose strategies that not only address short-term revenue loss but also support long-term growth and innovation,” the report noted.