Generic Plus Medicine

Image Source-fullertonindiaDotCom A generic medicine is something that directly affects the general public. It is a topic that comes under the concurrent list. You will find several generic medicine store franchises in India, but people aren’t much aware of their existence. Let’s see the licensing policy related to generic medicines, License for generic medicines Generic drugs are approved only after a rigorous review by the FDA and after a set period that the brand product has been on the market exclusively. This is because new drugs, like other new products, are usually protected by patents prohibiting others from making and selling copies of the same drug. In India, the generic medicines are approved jointly by Drugs Inspectors of Central Government and State Governments to verify compliance with the conditions of the license and the provisions of the Drugs & Cosmetics Act and Rules for not less than once in three years or as needed as per risk-based approach.

The most important advantage of using generic drugs is the cost, which is up to 85% less than that of a branded drug. Brand-name drugs require research and testing that take a lot of time and money. Still, generic medicine manufacturers of the generic medicines only need to copy what already exists, saving them the cost and allowing the price to stay low. Being affordable, generic medicines have been shown to increase the likelihood of patients taking essential medications prescribed by their doctors and improving their health outcomes. source: https://www.northwestfamilyclinics.com/blog/brand-name-vs-generic-drugs-understanding-difference