Prescription Patents To Expire
July 25, 2011, 5:19 PM
You could soon be saving money at the pharmacy counter, but it's got nothing to do with the latest sale or coupon offer being offered by your neighborhood drug store.
Over the next four years, the patents on a number of popular prescription drugs are due to run out. That means competition from generic versions of some of the best-selling medications will slash the cost to you. The expirations affect seven of the world's top 20 most popular pills, including the cholesterol medication Lipitor; the asthma remedy, Singulair; and the blood thinner, Plavix. Doctors are hoping the lower generic drug prices will benefit people who've been jeopardizing their health because they can't afford medications.
"A generic drug is, in most cases, the same as the pre-existing drug. So we would expect that it would have the same formulation and the same effects," Dr. Merle Myerson said.
Generic drugs can cost as much as 80 percent less and many carry lower co-payments for drug coverage. Last year, the average co-pay for generics was $6, compared with $24 for brand-name drugs.
So who will see these savings? Doctors estimate that over the next three years, one in five people will save money on their prescription costs due to the increased competition from generic drugs. In five years, that number of people saving at the drug store is expected to jump to one in three.
© 2011 KELOLAND TV. All Rights Reserved.
2/27/2015 10:21 AM
Paul Ell of Big Lake, MN snagged a 11.6-pound, 29.5-inch walleye after 6 p.m. Thursday night.
2/24/2015 11:04 AM
Early Tuesday morning, a Sioux Falls woman reported her 2001 Land Rover Discovery was stolen. A set of keys were left in the vehicle's center cons...
2/27/2015 10:44 AM
A former Sioux Falls teacher pleads guilty to sexual contact charges for a relationship she had with a student.
2/25/2015 7:50 AM
Prince Edward Island in Canada is one of many provinces and states along the East Coast dealing with record snowfall.
3/1/2015 5:47 AM
Temperatures this morning are mostly in the single digits and teens with clouds moving out of the area. Some areas of southern KELOLAND could see some...