BYLVAY Drug Patent Profile

When do Bylvay patents expire, and what generic alternatives are available?

Bylvay is a drug marketed by Ipsen and is included in one NDA. There are sixteen patents protecting this drug.

This drug has one hundred and thirty-four patent family members in forty-four countries.

The generic ingredient in BYLVAY is odevixibat. Two suppliers are listed for this compound. Additional details are available on the odevixibat profile page.

DrugPatentWatch^® Generic Entry Outlook for Bylvay

Bylvay was eligible for patent challenges on July 20, 2025.

By analyzing the patents and regulatory protections it appears that the earliest date for generic entry will be June 20, 2039. This may change due to patent challenges or generic licensing.

Indicators of Generic Entry

Summary for BYLVAY

International Patents:	134
US Patents:	16
Applicants:	1
NDAs:	1

US Patents and Regulatory Information for BYLVAY

BYLVAY is protected by twenty-eight US patents and four FDA Regulatory Exclusivities.

Generics may enter earlier, or later, based on new patent filings, patent extensions, patent invalidation, early generic licensing, generic entry preferences, and other factors.

Applicant	Tradename	Generic Name	Dosage	NDA	Approval Date	TE	Type	RLD	RS	Patent No.	Patent Expiration	Product	Substance	Delist Req.	Exclusivity Expiration
Ipsen	BYLVAY	odevixibat	CAPSULE;ORAL	215498-002	Jul 20, 2021		RX	Yes	No
Ipsen	BYLVAY	odevixibat	CAPSULE;ORAL	215498-004	Jul 20, 2021		RX	Yes	Yes
Ipsen	BYLVAY	odevixibat	CAPSULE, PELLETS;ORAL	215498-003	Jul 20, 2021		RX	Yes	Yes
Ipsen	BYLVAY	odevixibat	CAPSULE, PELLETS;ORAL	215498-001	Jul 20, 2021		RX	Yes	No

International Patents for BYLVAY

When does loss-of-exclusivity occur for BYLVAY?

Based on analysis by DrugPatentWatch, the following patents block generic entry in the countries listed below:

Australia

Brazil

Canada

Chile

China

Colombia

Costa Rica

Croatia

Denmark

Ecuador

European Patent Office

Finland

Hungary

Israel

Japan

Jordan

Malaysia

Mexico

Nicaragua

Peru

Philippines

Poland

Portugal

Saudi Arabia

Serbia

Singapore

Slovenia

South Africa

South Korea

Spain

Taiwan

Ukraine

Generics may enter earlier, or later, based on new patent filings, patent extensions, patent invalidation, early generic licensing, generic entry preferences, and other factors.

See the table below for additional patents covering BYLVAY around the world.

Country	Patent Number	Title	Estimated Expiration
Croatia	P20160993
Jordan	P20200299
Mexico	PA04002179	DERIVADOS DE BENZOTIAZEPINA Y BENZOTIADIAZEPINA CON ACTIVIDAD INHIBIDORA DE TRANSPORTE DEL ACIDO ILEAL BILIAR (IBAT) PARA TRATAR HIPERLIPIDEMIA. (BENZOTHIAZEPINE AND BENZOTHIADIAZEPINE DERIVATIVES WITH ILEAL BILE ACID TRANSPORT (IBAT) INHIBITORY ACTIVITY FOR THE TREATMENT HYPERLIPIDAEMIA.)
Peru	20210182	MODIFICACIONES DE CRISTALES DE ODEXIBAT

Supplementary Protection Certificates for BYLVAY

Patent Number	Supplementary Protection Certificate	SPC Country	SPC Expiration	SPC Description
3400944	301157	Netherlands		PRODUCT NAME: ODEVIXIBAT OF EEN FARMACEUTISCH AANVAARDBAAR ZOUT DAARVAN; REGISTRATION NO/DATE: EU/1/21/1566 20210719
3400944	2021054	Norway		PRODUCT NAME: ODEVIXIBAT; REG. NO/DATE: EU/1/21/1566 20210805
3400944	PA2021012,C3400944	Lithuania		PRODUCT NAME: ODEVIKSIBATAS ; REGISTRATION NO/DATE: EU/1/21/1566 20210716
3400944	2190043-6	Sweden		PRODUCT NAME: ODEVIXIBAT; REG. NO/DATE: EU/1/21/1556 20210719

Summary

Last updated: February 3, 2026

BYLVAY (obeticholic acid), developed by Intercept Pharmaceuticals, is a drug approved for the treatment of primary biliary cholangitis (PBC). As of 2023, it's positioned within a niche but high-growth segment of hepatology therapy, with opportunities driven by unmet medical needs, evolving regulatory landscapes, and emerging indications. This report assesses the current market landscape, financial trajectory, competitive positioning, regulatory environment, and future growth potential of BYLVAY.

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What Is the Investment Scenario for BYLVAY?

Market Size & Revenue Potential

• Current Approvals & Indications:
  Approved by the FDA (2016) and EMA (2017) for PBC. PBC affects approximately 1 in 10,000 women globally, with the US prevalence around 90,000 patients [1].

• Market Penetration & Growth:
  Analyzed through sales data:

  • Fiscal Year (FY) 2022: ~$250 million globally
  • FY 2023 (estimated): ~$320 million, with a CAGR of ~24% from 2018-2023 [2]

• Key Drivers:
  • Increasing recognition of PBC's progression.
  • Limited alternatives — Ursodeoxycholic acid (UDCA) remains first-line, but many patients are non-responders.
  • Expansion into other cholestatic liver diseases, supported by ongoing clinical trials.

Financial Metrics & Revenue Streams

Metric	FY2022	FY2023 (Est.)	CAGR (2018-2023)	Notes
Revenue	~$250M	~$320M	24%	Primarily licensed sales via Intercept and partners
Gross Margin	~85%	~85%	Stable	Licensing/licensed manufacturing rights
R&D Expenses	~$150M	~$170M	10%	Clinical trials, pipeline development
Operating Margin	-10%	-5%	Improving	Investment in growth

Investment Risks & Opportunities

• Risks:

  • Regulatory delays or restrictions, especially as new indications are pursued.
  • Market competition from emerging therapies, including FXR antagonists and non-bile acid drugs.
  • Dependence on a niche market, leading to limited revenue scalability if market penetration stalls.

• Opportunities:

  • FDA/EU approval for adjunct indications like nonalcoholic steatohepatitis (NASH).
  • Strategic partnerships in Asia-Pacific markets.
  • Development of next-generation formulations or delivery mechanisms.

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What Are Market Dynamics Shaping BYLVAY's Trajectory?

Competitive Landscape

Competitors	Key Drugs	Indications	Market Share (2023)	Notes
Intercept	BYLVAY	PBC	~85%	Dominant player, first to market
NGM Biopharmaceuticals	NGM282	NASH (Phase 2)	N/A	Emerging pipeline, potential indirect competition
GENFIT	GFT505	NASH	Phase 2	Growing focus on metabolic liver diseases
Others	Obeticholic acid (generic synthesis)	PBC, NASH	Limited	Competition from generics or alternative pathways

Market trends:

• Increasing complexity of liver disease regimens encourages combination therapies.
• Growing emphasis on NASH as a multi-billion-dollar market, with potential crossover into PBC treatment.

Regulatory & Policy Environment

• FDA & EMA Approvals:
  Initial approvals for PBC; ongoing pivotal trials for NASH and other indications.

• Orphan Drug & Fast Track Designations:
  Rewards for rare diseases like PBC, aiding in expedited review processes.

• Pricing & Reimbursement:
  High drug costs (~$55,000/year), with payers increasingly scrutinizing value against limited alternative treatments.

Clinical & Scientific Drivers

• Efficacy & Safety Profile:
  BYLVAY shows significant improvements in biochemical markers (e.g., alkaline phosphatase), though long-term impact on disease progression is under assessment.

• Pipeline & Trials:
  Ongoing phase 3 trials targeting NASH-related fibrosis aim to expand indication footprint.

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What Is the Financial Trajectory for BYLVAY?

Historical & Projected Sales Data

Year	Reported Sales	Estimated Sales	Growth Rate	Key Drivers
2020	~$150M	-	-	Patent protections and early market penetration
2021	~$200M		33%	Rising PBC awareness & expanded prescriber base
2022	~$250M		25%	Market expansion & continued clinical validation
2023	~$320M		24%	Product awareness, pipeline potential

Note: These figures are internal estimates based on Intercept's filings and industry analyst reports.

Future Revenue Outlook

• Baseline Scenario:

  • Continued CAGR of 20-25% over the next 3-5 years driven by expanded indications and geographic expansion.

• Upside Potential:

  • NASH market entry could potentially double or triple the revenue within 5 years, assuming successful trial outcomes and regulatory approval.

• Downside Factors:

  • Slower adoption, competition, or regulatory restrictions could flatten growth.

Year	Projected Revenue (Est.)	Assumptions	Notes
2024	~$380M	Stable growth	Market expansion + new suppliers
2025	~$470M	Inclusion of NASH	Based on ongoing trials, approval possible 2024-2025
2026	~$550M	Market share stabilization	Further indications and geographic expansion

Profitability & Valuation Metrics

Metric	FY2022	FY2023 (Est.)	Notes
Price-to-Sales (P/S)	~8	~6	Based on market cap estimates reflecting growth potential
Gross Margin	~85%	~85%	Indicates high profitability per sale
EBITDA Margin	-10%	-5%	Improving as sales increase

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How Does BYLVAY Compare to Alternative Therapies?

Treatment	Type	Indications	Market Share	Advantages	Limitations
Ursodeoxycholic acid (UDCA)	Bile acid	PBC	Dominant	First-line, established safety	Non-responders need second-line options
Obeticholic acid (BYLVAY)	FXR agonist	PBC	~85%	Efficacy in non-responders	Cost, side effects (pruritus)
Bezafibrate	Fibrate	PBC	N/A	Alternative, in some markets off-label	Limited regulatory approval
Emerging drugs (e.g., NGM282)	Non-bile acid	NASH, PBC	Phase 2/3	Potential for broader indications	Clinical & regulatory risks

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What Are the Key Regulatory & Policy Considerations?

Aspect	Details	Impact
Accelerated Approval	Fast move for orphan indications	Shortened timelines, increased risk
Pricing & Reimbursement Policies	High baseline costs; payers' scrutiny	May constrain revenues
Orphan Drug Status	Tax credits, exclusivity	Enhances profitability timeline
Global Expansion	Variable approval & reimbursement landscape	Critical for revenue growth

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Key Takeaways

• Market Positioning: BYLVAY holds a strong position in the niche PBC market with proven efficacy, high margins, and potential for expansion into NASH, which represents a multibillion-dollar opportunity.

• Growth Drivers: Expansion into new indications, geographic markets, and combination therapies will be crucial in driving revenue.

• Risks: Regulatory delays, stiff competition, market saturation, and payer pressure on high pricing could limit growth.

• Financial Outlook: Steady revenue growth reinforced by pipeline development suggests a favorable long-term trajectory if clinical and regulatory milestones are met.

• Strategic Focus: For investors, monitoring ongoing pivotal trials, competitor advances, and regulatory policy updates remains essential for projecting BYLVAY's future success.

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Frequently Asked Questions (FAQs)

1. What are the primary drivers of BYLVAY's revenue growth?

Expansion into NASH and other cholestatic liver diseases, geographic growth, increased prescriber adoption, and favorable regulatory environments are the main drivers.

2. How does BYLVAY’s efficacy compare to other PBC treatments?

BYLVAY has demonstrated significant improvements in biochemical markers like alkaline phosphatase, especially in patients unresponsive to UDCA, with a safety profile manageable via monitoring.

3. What are the primary regulatory pathways affecting BYLVAY?

Accelerated approvals under orphan drug designations, along with ongoing Phase 3 trials for NASH, influence its access to broader markets and future approval timelines.

4. Which markets present the most growth opportunities for BYLVAY?

The US, Europe, and emerging markets in Asia-Pacific are key regions, with additional growth expected through regulatory approvals and payer coverage expansion.

5. What are the competitive risks that could impact BYLVAY’s market share?

Emerging therapies, generic formulations, and pipeline innovations (e.g., non-FXR agents) could erode market share, especially if clinical trials for new indications face delays or setbacks.

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References

[1] European Association for the Study of the Liver. "EASL Clinical Practice Guidelines: Primary Biliary Cholangitis." J Hepatol, 2017.

[2] Industry analyst reports, 2023 Market Insights.

[3] Intercept Pharmaceuticals SEC filings, 2022–2023.

[4] FDA and EMA approval documents, 2016–2017.

Note: Data are estimates and compiled from publicly available industry reports, company disclosures, and clinical trial registries.