Ten of the best selling drugs in the U.S. will have their patents expire in 2011 and 2012. When the patent on a drug expires, other manufacturers can make a generic form of the drug. With many health insurance plans including “mandatory generic” as part of their formulary, it is important to understand the relationship between these classes of drugs.
What drugs are coming off patent?
Over the course of the next year and a half, ten of the most popular drugs sold in the United States will see their patent protection expire. These drugs treat numerous conditions including acid reflux, diabetes, asthma and depression.
Popular drugs scheduled to come off patent this year include
- Concerta (Johnson & Johnson),
- Lipitor (Pfizer),
- Levaquin (Johnson & Johnson),
- Protonix (Pfizer) and
- Zyprexa (Eli Lilly)
In 2012, five additional popular drugs will come off patent including
- Plavix (Bristol-Myers Squibb),
- Actos (Takeda),
- Seroquel (AstraZeneca),
- Singulair (Merck) and
- Enbrel (Amgen).
Impact to pharmaceutical companies could be significant
Lipitor introduced by Pfizer in 1988 reportedly had sales of $10.8 billion in 2010 and accounted for almost 16% of Pfizer’s revenue. Almost 4.3 million American take Lipitor daily.
Plavix from Bristol-Myers Squibb/Sanofi-Aventis is the second highest selling prescription drug in the world. Its global sales in 2010 were reported at $9.4 billion. Plavix may account for as much as 34% of the revenues of Bristol-Meyers Squibb. About 1.4 Americans currently take Plavix.
In all, the drugs which are scheduled to come off patent soon, account for more than $250 billion in sales annually for the various pharmaceutical companies.
Benefits to consumers
As these popular drugs come off patent, generic versions will replace them in the market. While this may be bad for the pharmaceutical companies it will be a great help to many Americans, especially those struggling to pay the costs of their prescriptions.
Brand name drugs usually cost between 20% to 80% more than the generic equivalent. Doctors have long reported that many patients try to cut corners by taking less of their prescribed medications in an effort to save money. With generic versions of some of the most popular drugs soon to be available, this may cut down on this risky behavior.
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