Since 2007, prescription drug prices have risen 165%. By contrast, the cost of generic drugs has fallen 70%. Moreover, the percentage of prescriptions that are filled with generic drugs is 84%. The key is competition. With one generic competitor, the average price decline compared to the brand-name competitor is 6%, with two it’s 48%, and with 19, it’s 94%. Prescription drug cost-containment requires approval of more generics not price controls.