A drug is identified by two names. One is
the chemical name or the generic name. And the other is the
brand name or the marketing name. A Generic
drug is a medication often recognized by its chemical
name.
Why Generic Drug and why not Brand-name drug?
Generic drug is less expensive
Generic drugs have all the active elements of a brand name drug. But still you get it at reasonable rates. The pharmaceuticals that produce these drugs don't have to spend money on research, advertising or even marketing the drugs. So there is no extra cost involved while selling these generic drugs. And it comes to you in very reasonable rates. Generic drugs are as much as 70% cheaper than their brand name drug.
Generic drugs, as effective as Brand-name drugs
Makers of Generic drugs must prove their
drug quality to get an approval from FDA.
It should be:
- Safe as brand name drugs
- Made under proper manufacturing laws
- The same ingredients but can vary in color, shape etc
Since Generic drugs are made under strict regulations, it is as safe and effective as Brand name drugs.
Generic drugs, similar in strength
- It has the same therapeutic effect as that of brand name drug
- Both drugs are similar in its strength
- Their effectiveness lasts for the same period
- It will be similar in dosage and administration
Who makes Generic drugs?
Some times, companies who make brand name drugs engage in making Generic drugs as well. Because of its growing popularity, pharmacies sell two versions of the same drug. The first one using the expensive Brand name and the second one using the Generic name. Some drug companies only make Generic drugs. No matter who makes them, these drugs should meet the standards before it is brought out into the market.
Price. It is the vital element, which helps sell Generic drugs. When you get the same effect of a drug, meeting all the essential standards, in a much low priced drug, you wouldn't want to waste a penny. That's why generic drugs have flooded the world drug market and its popularity will only increase from here. Today, you will not find a generic drug for all brand name drugs. But, with more and more people reaching out for Generic drugs, it's certain that pharmaceutical companies will come forward to help us lead a better 'less expensive life'.
Why generic drugs cost less?
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