Prescription medications, like food, are required to have a use by date. This is only the date that the seller can guarantee (typically in medicine a “guarentee” means with 99.9% assurance or higher) that the medicine will still be safe and effective by that date. While most medication doesn’t go bad by that date, there could be problems such as a reduction in potency. I can’t think if any situations in which a medication would break down into something harmful, unless it is a refrigerated or otherwise sensitive medication.
The bigger problem is typically the introduction of water that may cause bacteria to grow on our in the medication, which isn’t likely but is possible.
Most every chemical will degrade at some point, but it depends on the chemical and method of storage.
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