How Long Does a Drug Patent Last?
Updated: Dec 5, 2022
Brand-name drug companies have a limited window to develop, test, trial, and market a product before it becomes available to generic companies.
When you go to the pharmacist to have a prescription filled and get asked whether you would like a generic option or brand name, have you ever wondered why some products don't have a generic version?
Ultimately, generic versions of medications perform the same role and are made using the same active ingredients but can cost much less than their brand-name counterparts. Why is that? How can one company make the same product and sell it for much less than someone else? Development, testing, and trials.
What one company does no longer has to be replicated like it once did in the past. To learn more about that, check out our article on the History of Generic Drugs In the United States. It focuses on the patent law, which makes this possible!