In the next 15 months, six of the top 10 drugs used by Americans will face generic competition. Nearly 15 million consumers take Lipitor for cholesterol, the anti-clotting drug Plavix and Actos for diabetes. Others include Nexium, Advair, Diskus, Seroquel and Cymbalta, which will go to generic form in July of 2014.
The expiration of these patents represents an unprecedented opportunity for savings since generics are often priced 90% lower than their brand-name counterparts. As an example, those who need Lipitor can expect to see their monthly cost fall to as little as $4 from the $40 they may be spending now. Experience shows that when a generic becomes available, patients change more than 90% of the time. While there are a number of drugs that doctors prefer not to substitute, a transition to a generic is usually complete within six months of a patent expiring.
In cooperation with NAEBA