Well actually, the only patent prescription drug is a bit elastic since insurance/PBMs negotiate on price. In referring to the particular case of a formerly on

Well actually, the only patent prescription drug is a bit elastic since insurance/PBMs negotiate on price. In referring to the particular case of a formerly on patent brand name drug that goes off patent that spikes in price. You'll notice that even over the counter non patented brand name drugs are more expensive than the generics - brand loyalty breeds inelasticity