Patents for several brand-name drugs are expiring, allowing competition from generic drugs. For instance, the November expiration of the cholesterol drug Lipitor may cause a reduction in price from $25-40 per month to $4 per month, according to the report.
In the next two years, generic counterparts are expected to exist for six of the 10 best-selling drugs in the U.S., including Lipitor, Actos and Plavix. The generic competition for Lipitor will have the largest impact on consumers, according to the report. Lipitor is the top-selling drug of all time, having gained more than $9 billion in U.S. sales at one point.
Read the Los Angeles Times report on drug savings.
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