In 2024, several major pharmaceutical companies are gearing up for the expiration of patents, which will significantly impact the landscape of the global drug market. These expiring patents will pave the way for generic alternatives, potentially altering market dynamics and accessibility to essential medications.
Key Drugs Facing Patent Expiry:
- Abilify Maintaina Kit: Otsuka Pharmaceutical’s long-acting injectable antipsychotic, with a revenue of $15.5 billion in 2022, is set to lose its patent by October 2024. Abilify Maintaina has been instrumental in the treatment of schizophrenia since its launch in 2013.
- XARELTO: Janssen Pharms’ anticoagulant drug, used for reducing the risk of stroke and systemic embolism, will lose its patent protection in August 2024.
- FARXIGA: AstraZeneca’s anti-diabetic medication, Farxiga, valued at around $4.3 billion annually, is poised to lose its patent in 2024.
- Ozempic: Novo Nordisk’s injectable GLP-1 analogue for type 2 diabetes management, generating sales of approximately $3.6 billion, will lose its patent in May 2024.
- LYNPARZA: AstraZeneca’s cancer treatment drug, Lynparza, with sales of $2.7 billion in 2022, will face patent expiry in 2024.
- SYMBICORT: AstraZeneca’s respiratory drug, Symbicort, set to lose patent protection in November 2024, has been pivotal in managing asthma and COPD.
- ENTRESTO: Novartis’ heart failure medication, generating sales of $2.5 billion, will lose its patent in May 2024.
- LATUDA: Sunovion Pharmaceuticals’ antipsychotic drug for schizophrenia treatment, with sales of $1.8 billion, will see its patent expire in February 2024.
- XIFAXAN: Salix Pharmaceuticals’ antibiotic for IBS-D and hepatic encephalopathy, generating sales of $1.6 billion, will lose patent protection in June 2024.
- CABOMETYX: Exelixis’ drug for advanced renal cell carcinoma, with sales of $1.4 billion, will face patent expiry in September 2024.
