$300M blockbuster falls off patent

Almost $350 million in combined reimbursements have been hit with statutory price reductions, including a blockbuster which took a $75 million hit to earnings after Australia joined the rest of the world in diving off a patent cliff.

BMS' anticoagulant Eliquis earned $304.4 million in pre-rebate R/PBS reimbursements for the financial year ending in June 2026, but on the first of August faced a flood of generic competition, triggering a 25 per cent automatic reduction in price.

Seven companies had generic brands listed on the PBS this month, including Pharmacor's Apexa, Generic Health's Apixaban Lupin, Arrotex's Apixaban-APX, Sandoz' Apixaban Sandoz, Wagner's Apixaban-WGR, Cipla's Cip Apixaban, and Apotex's APO Apixaban.