Prescription Patents to Expire…Savings on the Horizon
The word “generic” means effective medicie PLUS cost savings and the cost of several of the most frequently prescribed drugs will soon drop significantly as their patents expire. British researcher EvaluatePharma reports that seven of the world’s 20 top-selling drugs will get generic versions over the next 14 months with the expiration of their patents in an unprecedented wave. Included among the seven are top two best-sellers — cholesterol drug Lipitor and the blood thinnner Plavix. This is good news not only for patients, but for businesses and taxpayers who help pay for prescription drug insurance plans, since generic drugs usually cost 20 percent to 80 percent less than the brand names. Generics are chemically equivalent to brand name drugs and work just as well for nearly all patients.