News Headlines Article

Prescription Drug Prices Expected to Plummet Due to Expiring Patents

With seven out of twenty of the best-selling drugs worldwide being scheduled to go “off patent” over the next 14 months, brand-name drug sales are expected to plummet due to the availability of generic versions. Millions of patients and companies providing health benefits will reap soaring savings of 20 to 80 percent as generic versions replace drug giants’ top-selling medications. According to the Associated Press, makers of prescription drugs whose patents will expire by September 2012 currently enjoy about $255 billion in annual global sales.