Pfizer’s decision to agree to the last of three settlements to delay the launch of counterfeit versions of its transthyretin amyloid cardiomyopathy (ATTR-CM) drug Vindamax was expected to be good news for BridgeBio and its rival drug Atruvy.
But analysts say that while it’s definitely a boon for Pfizer, the outcome will be mixed for BridgeBio because the agreement’s earlier-than-expected entry date for generic drugs.
Recently, Pfizer resolved a dispute with Dexel Pharma and Cipla over generic Tafamizi.
Now, Pfizer announced on Tuesday that it has also reached an agreement with Hikma Pharmaceuticals, successfully preventing the entry of Tafamizi generics into the early part of the next decade through a series of settlements, and extending the U.S. patent expiration date for Vindamax until June 1, 2031, pending the outcome of other lawsuits.
The timing of a generic version of Vindamax is currently unknown, but Evercore ISI analysts have previously suggested that either 2030 or 2031 would be a “huge relief” for Pfizer.
“We are extremely pleased with these results, both for patients and recognizing the value of our innovative science and the strength of our patents,” Aamir Malik, Pfizer’s U.S. chief commercial officer, said in a company press release.
“We remain focused on our unwavering commitment to ATTR-CM patients,” he added. “With our market leadership and physician experience, we remain confident in the value and benefits of Vindamax and are committed to reaching more patients living with this serious and underdiagnosed disease.”
Pfizer sells Tafamizi only as the high-dose Vindamax in the U.S. after it pulled Vyndaquel, the lower-dose label for Tafamizi, from the market last year. The company’s tafamidis franchise achieved global sales of $6.3 billion in 2025, reflecting 17% growth compared to 2024, helping offset the coronavirus-induced sales slowdown across Pfizer’s portfolio.
The company previously predicted a “significant decline” in U.S. Vindamax revenue starting in 2029. With the settlement, Pfizer expects U.S. sales of the drug to remain “relatively stable” from 2028 to mid-2031, according to a statement.
Pfizer’s ATTR-CM product remains the market leader, accounting for 75% of current prescriptions in the field, the company said. But other startups entering the growing market should also see the impact of a longer runway for generic drug competition.
Analysts agree that delays in generic entry will eliminate BridgeBio’s large overhang, albeit to a lesser extent than expected. For example, Mizuho Securities analysts previously outlined a “likely” assumption that the settlement would push back the launch of generic drugs from 2033 to 2035.
While a 2031 entry is “certainly not the best-case scenario,” the Mizuho team believes it “remains a positive” for BridgeBio, analysts wrote in a note to clients.
BridgeBio stock was trading 5.11% lower at $70.69 at the time of publication on Tuesday afternoon, suggesting investors may be more hesitant.
Delaying generics for Pfizer’s blockbuster heart drug is also in BridgeBio’s interests. That’s because early competition from cheaper options could put pricing pressure on Atrubee and hurt its sales growth, which is still in its early stages.
Analysts at William Blair said BridgeBio investors were seeing a “mixed outcome” despite the update being a significant “liquidation event.”
Still, analysts at Leerink noted that the latest version of the generic tafamidis allows BridgeBio investors to focus on the momentum of Atruvy’s launch. According to Mizuho’s team, Attleby’s market share is currently “more than 25%,” but by the time a generic version of tafamidis hits the market, that pie should be “significantly higher.” William Blair analysts further noted that Atruvy’s growth is likely to continue despite the entry of generic drugs.
There is also the potential for BridgeBio to gain additional market share from its continued efforts to position Atruvy as a differentiated and superior option over Vivdamax, Evercore ISI analysts wrote in a note to clients.
Before the generic entry date was known, the Evercore team had suggested that if Vydamax copycats waited until the early 2030s, Attruby’s peak sales could inch closer to $5 billion.
Atrubee has a long way to go before it reaches blockbuster status, with sales of $362 million in 2025. As of February 20, 2026, 7,804 prescriptions have been written for the drug since its launch in late 2024, according to BridgeBio.
The two drug companies also share the ATTR-CM market with Alnylam’s siRNA therapy Amvuttra, which the FDA approved last March.
