The Top Line · Fierce Life Sciences

Patent expirations push biopharma industry toward a tougher 2026

·18 min·1 clip
Teva's expected decline is dramatic, shifting from a 4% increase to a 4% decrease, reversing CEO Richard Francis's three-year pivot to growth strategy.
This episode analyzes the Q4 2025 earnings and 2026 guidance of the top 25 biopharma companies, revealing an industry-wide trend toward slower growth or declines. Reporters Eric Saganowski and Kevin Dunlevy detail how patent expirations for blockbuster drugs are creating significant headwinds for companies like Novo Nordisk, Bristol-Myers Squibb, Pfizer, and Teva, while also highlighting outliers like Eli Lilly.

As heard by us

A steady read on how patent cliffs are reshaping biopharma guidance.

The segment uses the top 25 biopharma companies' fourth quarter earnings to show how quickly a familiar growth story can turn brittle once blockbuster drugs start losing patent protection.

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Why you'd press play

See which big drugmakers are heading into a tougher 2026.

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