Drug Patent Expiration Means Profit Is Up For Grabs

I was reading an article about expiring drug patents and learned that when a company or a doctor has a patent on a drug, they have a monopoly on the drug until the patent runs out. And once it runs out, competition rushes in to fill the market with firms selling the drug under their own name. In other words, they create their very own generic drug, which is set at a lower price to undercut the original drug maker. You can see this occurring at walgreens, where next to the name brand items, you find the walgreens generic product at a cheaper price.

http://marketrealist.com/2016/03/drug-patent-expirations-190-billion-sales-grabs/