In December 2013, seven generic equivalents were introduced for the branded antidepressant Cymbalta, which had just gone off patent. At that time, Cymbalta carried a price tag of $538 for a 30-day supply. Within a month that price dropped 27 percent, and the addition of four more generic equivalents slashed the price in half by the end of 2014.
This is a perfect example of how the generic drug market is supposed to work, and often has worked since the 1984 launch of the Drug Price Competition and Patent Term Restoration Act, aka the Hatch-Waxman Amendments.
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