Over the past few months we are hearing about generic drugs and also seeing many advertisements on the promotion of generic drugs and it’s price.
We were wondering.. 🤔…What is this generic drugs?
- Why these Generic medicines are cheaper than the brand-name versions?
- Are the quality and effectiveness of these drugs have been compromised to make the less expensive products?
- Does they compromise on active ingredients and composition?
- Does it have the same medicinal effects?
If the generic drugs are availavle at cheaper price and with same effect as brand drug, why the government is allowing pharmaceutical companies to sell the drugs at higher prices? Why they can not force them to sell it at lower prices ?
All the above dubiousness leads haddhaiyaar team to understand the nature or significance of this generic drugs and brand name drugs.
What is Generic drug?
Generic drugs are facsimile of brand-name drugs that have exactly the same dosage, purpose, effects, side effects, risks, safety, and strength as the original brand drugs.
In other words,
Generic drugs’ pharmacological effects are exactly the same as those of their brand-name counterparts.
Why generic drugs are cheaper?
To bring a new drug to the market, the firm has to spend substantial money on research, development, marketing and promotion of the drug. They file a patent for the new drug. Once the patent is granted, an exclusive right to the firm will be accorded to sell the drug as long as the patent is in effect.
Whereas , Generic drugs manufacturers have not had the expenses of developing and marketing a new drug.
As the patent nears expiration, manufacturers can apply to the approval for permission to make and sell generic versions of the drug.
When multiple companies begin producing and selling a drug, the competition among them can also drive the price down even further.
Sometimes, generic versions of a drug have different colors, flavors, or combinations of inactive ingredients than the original medications.
When generic drugs can be produced?
Generic drug versions may be produced once the patent for the brand-name drug expires. The patent protection for a brand-name drug is usually 20 years from the date of submission of the patent.
Does all the brand-name drugs have a generic counterparts?
The answer is No.
The U.S. Food and Drug Administration (FDA) requires generic drugs to have the same performance and quality as brand name drugs.
After FDA approves generic drugs (also all other brand drugs), it continues to examine the medicine’s safety and quality before and after a new or generic medicine is marketed.
FDA continually monitors drug products to make certain the medicines at all levels of the supply chain, from active pharmaceutical ingredients (APIs) to products being sold to consumers, are safe, effective, and high quality.
Generic drugs in India
To bring down drug prices and expand access to affordable health solutions, Prime Minister Narendra Modi wishes every Indian to have access to cheaper medical drugs and his government is also trying to come up with a mandatory code on marketing practices to ensure doctors and pharmacists prescribe generic drugs rather than more expensive branded ones.
The above information is based on study and analysis of haddhaiyaar team and only for readers general knowledge.
For more information on generic drugs contact your physician and take his opinion before buying any drugs.