U.S. prices for generic drugs have dropped and they are expected to get even cheaper.
According to health information firm IMS Health, the ultra-low prices for generic prescriptions offered by giant retailers and drugstore chains and intense competition among the many generic drug makers fighting for sales have forced prices lower.
Dollar sales of generic drugs fell in the U.S. by 2.7 percent in the year ending in September, even though the number of generic prescriptions filled actually increased by 5.4 percent over the year before.
Price competition is particularly intense for drugs that had been brand-name blockbusters, including osteoporosis drug Fosamax and cholesterol fighter Zocor -- where "there can be as many as 20 generic manufacturers competing for share."
Meanwhile, in 2006 discounter Kmart, followed by Wal-Mart and Target, began offering a large number of popular generic drugs for just $4 or $5 per month, passing on their savings from buying in large volume as a strategy to draw more shoppers into their stores.
Here are some top-selling drugs that have recently lost or soon will lose patent protection and face generic competition, along with their purpose according to Medco Health Solutions.
The dates are estimates and can change.
2008: Fosamax, osteoporosis
Imitrex, migraines
Protonix, severe heartburn
Risperdal, schizophrenia/bipolar disorder
2009: Prevacid, severe heartburn
Topamax, migraine prevention/epilepsy
Valtrex, herpes
2010: Cozaar/Hyzaar, high blood pressure
Flomax, overactive bladder
2011: Actos, diabetes
Aricept, Alzheimer's disease
Effexor XR, antidepressant
Levaquin, bacterial infections
Lipitor, cholesterol
2012: Lexapro, antidepressant
Plavix, blood thinner
Seroquel, schizophrenia/bipolar disorder
