Health Insurance Daily

Savings Ahead In Generic Medicines

Consumers stand to save billions of dollars in prescription drug costs in the next few years as an unprecedented wave of expensive brand-name medications come off patent, facing competition from far-cheaper generic versions.

Four of the nation's 10 best-selling prescription medicines — treating common ailments ranging from high cholesterol to asthma — are due to lose patent protection starting this year through 2010. Never have so many branded drugs, with annual sales of as much as $75 billion, lost their patents in so short a time, experts say.

The savings for consumers could be enormous. Unlike hospital or doctor care, which is expensive but paid mostly by health insurance, patients pay a relatively higher share of prescription drug costs out of their own pockets.

To read this article in its entirety click on latimes.com.

posted by Mike @ 12:45 AM