| You may have heard that switching to a generic medicine will save money and now may be wondering if there is any difference between branded medications and their generic versions. Below is a detailed comparative analysis of the two.
Generic drugs are copies of branded medications that have exactly the same dose, intended use, effects, side effects, route of administration, risks, safety, and potency as the original medication.
A great many people have doubts about the efficacy of generic medications, as the latter are often considerably cheaper than brand name versions. They would like to know if the quality and potency have been changed to produce cheaper drugs. Generic drugs are compulsory to be as secure and efficient as brand name medications.
In fact, generic drugs are lees expensive, as the producers do not have to spend money on developing and marketing of a new drug. When a manufacturer introduces a new medication to the pharmaceutical market, the business has already spent a substantial amount of money on research, development, marketing and forwarding of the medication. The company that manufactures the drug is given a patent - an exclusive right to sell the medication as long as the patent is valid. By the end of the expiration date of the patent, manufacturers can ask the FDA for a permit to produce and sell generic versions of the medication. Without the startup costs for development of the drug, manufacturers can afford to produce and sell it at a low price. When several firms start manufacturing and selling a medication, the competition among them can also result in a lower price.
The standards for all drug producing facilities are the same, and a great many producers make both brand name and generic medications. In fact, the FDA estimates that 50% of generic medication production is by brand name firms.
At times, generic versions of a drug have different colours, flavors, or combinations of inactive ingredients in comparison with original medications. According to the U.S. Trademark law, generic drugs are not allowed to look exactly like branded medications. Yet, active ingredients in boht preparations must be the same, ensuring that both have the same medicinal effects. |
