Surge of generics will trigger drop in drug prices

Jul 27 2011

With a number of the world's best-selling drugs soon to go "off patent," patients and insurers will see a reduction in prescription drug costs.

CBS/AP: Prescription Drug Prices Set To Fall As Patents Expire
In the next 14 months, seven of the world's 20 best-selling drugs are scheduled to go "off patent." As they do, the brand-name drugs will lose out to generic versions, cutting costs for patients and companies that provide health benefits. Generic versions of big-selling drugs for high cholesterol, high blood pressure, asthma, diabetes, depression, high triglycerides, HIV/AIDS, and bipolar disorder also are on the way. Generic medicines — chemically equivalent to the original brand-name drugs — typically cost 20 percent to 80 percent less than the brand names (Freeman, 7/25).

Chicago Sun-Times: New Surge Of Generic Drugs Expected To Lower Prescription Prices
Cholesterol-fighting Lipitor, blood thinner Plavix and five more of the world's best-selling prescription drugs will lose their patents over the next 14 months, and prices are expected to plunge as generic versions become available. In all, about 120 brand-name prescription medications will see their patent-protected exclusivity expire in the next decade or so, bringing a flood of new generic drugs to the market (Dudek, 7/26).