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The cost of prescription medications is a major concern for many Americans. Pharmaceutical companies spend billions of dollars each year on research and development. Patent system gives drug companies a monopoly on their products, allowing them to charge higher prices. The lack of competition in the drug market also contributes to high prices. Fortunately, there are a few ways to save money on your medication. Ask your doctor or pharmacist to find out if a generic alternative is available for your particular medication or device. Shop around for the best price.