Canada Drug Prices Blog
Welcome to our Canada Drug Prices blog! Our blog is maintained by our health editor and provides commentary or news on the healthcare and pharmaceutical industry.
We hope your find our opinions helpful and informative as the world of healthcare is a dynamic and ever changing.
The Impact of Lower Drugs Prices as Patents are Set to Expire in Waves!
By Sam Jackson, Healthcare Editor - July 29, 2011
There was an very significant article in AP Associated Press on July 25, 2011 titled "Drug prices to plummet in wave of expiring patents" that outlined the impact on expiring patents on brand name drugs. Finally some great news that has enormous impacts for patients penny pinching. It was noted in the article that between now and 2016, about $255 billion in global annual sales will go off patent. What does this mean to you the consumer? Simply smiles because the generic competition will decimate the sales of these brand name drugs going off patents thereby slashing cost to patients and companies that provide health benefits. A great example is Generic Lipitor which should hit pharmacies Nov. 30 and cost them around $10 each a month. That has tremendous savings for anyone who has had to pay the regular brand name prices. The exciting news is next 14 months will bring generic versions of seven of the world's 20 best-selling drugs including the cholesterol fighter Lipitor that we just mentioned and the blood thinner Plavix.
