New Yorkers may soon be spending less on prescription medications as expensive brand-name drugs go generic.
Many popular brand-name drugs are expected to come off-patent within the coming years. Which means there are likely to be generic versions for sale.
For example, the world's top-selling drug Lipitor – which earned Pfizer, the pharmaceutical company more than $11 billion U.S. in 2010 – is scheduled to come off-patent in November, reports NPR’s health blog. And generic versions could be available as soon as June.
Other high-end drugs about to fall off what analysts call the “patent cliff” include Plavix, Nexium and Seroquel.
Experts say popular brand-name drugs that don’t have generic versions can be expensive, even with insurance.
According to the FDA, 7 in 10 prescriptions filled in the U.S. are for generic drugs.
