It’s almost always cheaper to opt for a generic medication instead of a brand medication. However, generic medications aren’t always an option for drugs whose patent hasn’t expired yet. Pharmaceutical companies use patents to protect their R&D investment and try to maintain the exclusivity period as long as possible.
But that doesn’t mean you’re trapped with a brand drug. Patent terms for brand drugs expire every year, which means a more affordable option might be right around the corner.
First Ask: Does Your Brand Drug Have A Generic Equivalent or Alternative?
When a patent expires, generic drug makers can enter the market with an equivalent generic alternative. These medications must meet strict FDA guidelines and must have the identical active ingredients and strengths as the originator drug.
So how do you know if your brand prescription’s patent is on the verge of expiring?
The easiest way to do this is to search for your brand name medication patent expiration date.
Why take the time to search? After a generic equivalent comes out, you can expect the price of the generic to be 15-25% less than the brand drug. After 6 months and multiple generics makers have launched equivalent generics, the price should drop another 20-50%!
Biggest Brand Name Patents Expiring Next Year
When it comes to the biggest patent expirations in 2020, we’ve already done the hard work for you. Below are the most popular drugs that will be receiving a generic alternative in 2020.
Afinitor tablets
Brand prescription name: Afinitor
Generic name: Everolimus
What it treats: Cancer
Expected savings per month: $3,000
When the generic gets released: Early 2020
Omnaris nasal spray
Brand prescription name: Omnaris
Generic name: Ciclesonide
What it treats: Nasal allergy
Expected savings per month: $185
When the generic gets released: Early 2020
Absorica capsule
Brand prescription name: Absorica
Generic name: Isotretinoin
What it treats: Acne
Expected savings per month: $1,600
When the generic gets released: Late 2020
Atripla tablet
Brand prescription name: Atripla
Generic name(s): Efavirenz; Emtricitabine; Tenofovir Disoproxil Fumarate
What it treats: Antiretroviral
Expected savings per month: $800
When the generic gets released: Late 2020
Chantix tablet
Brand prescription name: Chantix
Generic name(s): Varenicline Tartrate
What it treats: Helps you quit smoking
Expected savings per month: $225
When the generic gets released: Late 2020
Ciprodex ear drops
Brand prescription name: Ciprodex
Generic name(s): Ciprofloxacin; Dexamethasone
What it treats: Ear infections, swimmers ear
Expected savings per month: $180
When the generic gets released: In 2020
Dulera Inhaler
Brand prescription name: Dulera
Generic name(s): Formoterol Fumarate; Mometasone Furoate
What it treats: Asthma
Expected savings per month: $240
When the generic gets released: Late 2020
Noxafil tablets/ susp
Brand prescription name: Noxafil
Generic name(s): Posaconazole
What it treats: Anti fungal
Expected savings per month: Unknown
When the generic gets released: Early 2020
Thalomid capsule
Brand prescription name: Thalomid
Generic name(s): Thalidomide
What it treats: Cancer
Expected savings per month: Unknown
When the generic gets released: In 2020
Zortress tablets
Brand prescription name: Zortress
Generic name(s): Everolimus
What it treats: Transplant
Expected savings per month: $600
When the generic gets released: Early 2020
Other Ways To Save On Your Prescriptions
Check out our article 7 Insider Tips To Save Big On Prescription Drugs for some easy, quick techniques you can use the next time you go to fill a prescription.
Generic Alternatives
If your brand name drug doesn’t have an exact match generic, look for generic “alternatives” within your medication drug class. A drug class is the broader category your prescription falls into. For example, Beta Blockers which treat heart disease, ACE Inhibitors which treat high blood pressure, or Lipid Regulators which treat high cholesterol. This can be a potential savings discussion with your physician with regards to a therapeutic alternative.
Ask Your Doctor or Pharmacist
Ask your pharmacist about alternative medications or any potential savings that they may know of for a particular medication or class of drugs.
Remember, don’t be afraid to actually discuss your physician’s medication choice for you. It can be a great savings to you, and enjoy your new collaborative relationship with your physician. Every time you ask questions, you take another step closer to being in control of your health care.
