Expiring Patents Will Give Many Cheaper Medicine
October 29, 2011 in Daily Bulletin
According to Boston, over the next year many people in the United States will start paying a good deal less for prescription drugs. Patents on several of the most purchased drugs will be expiring soon; this means that patients will be able to buy chemically equivalent non-brand name medicine. Some of the figures from the article are:
- The average generic prescription cost $72 whereas the average brand name cost $198
- 15% of the population will be affected by these soon to expire patents
- In 2 years a brand name drug can lose 90% of it’s revenue to competition
For more about what the changes will mean for the companies and consumers you can head here.
Source: Boston
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