Pfizer inking the last of three settlements to postpone copycats to its transthyretin amyloid cardiomyopathy (ATTR-CM) med Vyndamax was expected to signal good news for BridgeBio and its rival therapy Attruby.
But while no doubt a boon for Pfizer, the earlier-than-expected generic entry date dictated by the agreements makes the outcome more of a mixed bag for BridgeBio, analysts say.
In recent days, Pfizer has settled generic tafamidis disputes with Dexcel Pharma and Cipla.
Now, an accord has been reached with Hikma Pharmaceuticals as well, and the clutch of settlements has successfully fended off generic tafamidis entry until early in the next decade, extending the U.S. patent expiry date for Vyndamax until June 1, 2031, pending the outcome of other litigation, Pfizer announced Tuesday.
With the potential timing of the generic Vyndamax launches unknown until now, Evercore ISI analysts had previously suggested that any year after 2030 or 2031 would be a “huge relief” for Pfizer.
"We are very pleased by this outcome, both for patients and in recognition of the value of our innovative science and the strength of our patents," Pfizer’s chief U.S. commercial officer, Aamir Malik, said in a company press release.
"Our focus continues to be our unwavering commitment to patients with ATTR-CM," he added. "With our market leadership and physician experience, we remain confident in the value and benefits of Vyndamax as we work to reach more patients living with this serious and underdiagnosed disease."
Pfizer sells tafamidis only as high-dose Vyndamax in the U.S., after pulling the drug's lower-dose presentation, Vyndaqel, from the market last year. The company’s tafamidis franchise racked up worldwide sales of $6.3 billion in 2025, reflecting 17% growth from 2024, which helped offset slower COVID sales across Pfizer’s overall portfolio.
The company had previously forecast a “significant decline” in U.S. Vyndamax revenues starting in 2029. With the settlements, Pfizer now anticipates the drug's U.S. sales will remain “relatively stable” from 2028 through mid-2031, per the release.
Pfizer’s ATTR-CM offering remains the market leader, boasting 75% of the current prescription volume in the space, according to the company. But other up-and-coming players in the growing market should also see the impact of a longer runway to generic competition.
Analysts agree that the delay in generic entry removes a major overhang to BridgeBio, albeit to a lesser extent than expected. Mizuho Securities analysts, for one, had previously outlined the “likely” assumption that the settlements would push generics out to the 2033-2035 timeframe.
Although the 2031 entry is “certainly not the best case scenario,” the Mizuho team considers it “still positive” for BridgeBio, the analysts wrote in a note to clients.
Investors may be more hesitant, with BridgeBio’s stock trading at $70.69 at the time of publication on Tuesday afternoon, down 5.11%.
Pushing off generics to Pfizer’s blockbuster heart med is in BridgeBio’s interest, too, as earlier competition from cheaper options could put pricing pressure on Attruby and stunt its sales growth while still early in its launch.
William Blair analysts explained that BridgeBio investors see the update as “a mixed outcome,” despite being a key “clearing event.”
Still, Leerink analysts noted that the update to tafamidis generics allows BridgeBio investors to focus on Attruby’s launch momentum. As it stands, Attruby’s market share is “north of 25%,” according to the Mizuho team, but that piece of the pie should be “significantly higher” by the time tafamidis generics hit the market. William Blair analysts further noted that Attruby’s growth could continue despite generic entry.
Elsewhere, BridgeBio’s continued efforts to position Attruby as a differentiated, superior option to Vyvdamax could earn it additional market share as well, Evercore ISI analysts wrote in a note to clients.
Prior to the known generic entry date, the Evercore team had suggested that peak sales of Attruby could inch closer to $5 billion if Vydamax copycats were waylaid until the early 2030s.
Attruby still has a ways to go to reach blockbuster status, having picked up sales of $362 million in 2025. As of Feb. 20, 2026, 7,804 prescriptions had been written for the drug since its launch in late 2024, according to BridgeBio.
The two drugmakers also share the ATTR-CM market with Alnylam's siRNA therapeutic Amvuttra, which the FDA approved last March.