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If you look in your medicine cabinet, chances are you'll see at least one of the following blockbuster drugs: Lipitor, Plavix, Lexapro or Singulair. They lower cholesterol, help prevent heart attacks and treat depression, asthma and allergies.
They're also among the top selling prescription medicines going off the "patent cliff" — that's what the drug industry calls the moment patented drugs lose their exclusivity. This usually happens 15 years after the drug is introduced to the public — a time when pharmaceutical companies worry about making profits as generic competition enters the drug market.
This Inside E Street takes a look at the strategies pharmaceutical companies take once a blockbuster drug goes off patent — strategies aimed at limiting both competition and, unfortunately, your savings on your meds.
You may also like: Don't miss out on drug savings.
Dr. Armon B. Neel Jr. | Ask the Pharmacist
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