The article is vague on the specifics of how this is supposed to work. I am actually interested in this for a very selfish reason. I am a migraine sufferer. I take Imitrex for the migraines and have for at least 15 years. I have been hoping for a generic equivalent to this drug. During the years I have taken this, I have had insurers refuse to fill it unless I jump through various hoops that they set up to make it as difficult and expensive and time consuming as possible.
I thought that the drug manufacturer had a monopoly for a certain number of years, and after that period, it could be manufactured as a generic drug. Unfortunately, the drug manufacturers will wait till the end, and make a tiny change to their drug to restart the clock on their monopoly.
Something should be done to ensure that the law works as it is intended, and let medications can go generic after a certain amount of time with their monopoly. The drug companies should have a monopoly for a certain amount of time to recoup their R&D, and to make a healthy profit, but after that period of time, let it go generic!
I thought that the drug manufacturer had a monopoly for a certain number of years, and after that period, it could be manufactured as a generic drug. Unfortunately, the drug manufacturers will wait till the end, and make a tiny change to their drug to restart the clock on their monopoly. While I'm sympathetic to your medical situation, I challenge the use of your word, "monopoly," in this example. A monopoly seems to be used in a derogatory way, as if the pharma company has manipulated the business environment in such a way that no other competitor can step in.
Aside from that, I'll answer your question. A patent does have a limited lifespan. In the case of pharmaceuticals, the patent may be extended when there are new treatment indications, or novel ways of applying the patented product. The reason for this is, a pharma company might find other uses for the drug through its R&D. Otherwise, it cannot get FDA approval to sell the drug for any other indication.
Having said that, once a pharmaceutical goes off patent, other generic companies may manufacture and sell that product (assuming FDA approval to do so). However, depending on the technolgy and costs associated with manufacturing, a generic may prefer to skip the more costly products; i.e., if it costs them a lot to make, they have to charge more, and be uncompetitive. You see this with a lot of the insulins, for example. It takes a long time in days, and uses expensive manufacturing techniques and equipment.
I hope you find a cheaper alternative. It sounds like a lot of good pharma R&D is working for you.