Drug Prices Expected To Dip as Patent Protections Expire
Seven of the world's 20 top-selling prescription drugs will lose patent protection in the next 14 months, causing drug prices to decline significantly. In addition, nearly 120 brand-name prescriptions worth about $255 billion in global annual sales are expected to lose market exclusivity by 2016. As a result, consumers could experience significant savings over the next decade because generic alternatives typically cost between 20% and 80% less than brand-name treatments. Physicians also hope lower prices will discourage people from skipping or not taking medications as prescribed to save money.
- "Drug Prices To Plummet in Wave of Expiring Patents" (Johnson, AP/San Francisco Chronicle, 7/25).