Why Are Generic Medicines More Affordable Than Branded Medicines?

There is a huge difference between the prices of generic and branded medicines, and sometimes branded medicines are as high as 80% of generic medicines.


               imagesource - emedkit.com-why-are-generic-medicines-cheaper-than-branded-medicines

 

Why are generic medicines more affordable than branded medicines?

The huge difference in the prices is due to the efforts and expenses required to make a new medicine.

There are several factors involved in the manufacturing process, including Research, Large-scale drug testing, Advertising, marketing, and promotion.

All of these stages need a specific investment.



To help recover these costs, new branded medicines are given patent protection when they are first sold.

When this patent ends, other companies are allowed to make and sell its generic version. 



Comments

Post a Comment

Popular posts from this blog

Does Generic Medicine Work Just Like Branded medicine Do?

Image
Generic medicine manufacturer companies do not compromise on the quality and ingredients and produce the same medicines as the branded ones. All generic medicines follow the standards set by FDA. What factors are shared between a generic medicine and a brand-name medicine? Safety, dosage, quality, effectiveness, and strength are taken care of in generic medicine, as with branded ones. Generic medicines even have the same side effects and benefits as brand-name medicines. The generic medication meets the standards which the FDA conducts. FDA monitors the generic medication or medicine safety after been approved and brought to the market. However, you might find natural variability to some extent when produced on a large scale. This slight variation in size, strength, purity, or other parameters is permitted. To sum up, the difference between generic and branded medicines is similar to that between branded and branded ones.  
Read more

Do Doctors Get a Commission to Prescribe Branded Drugs?

Image
  Although it is against their oath as medical practitioners, some doctors receive commissions to prescribe certain brand-name medicines. Therefore, the government had to interfere and set regulations for medical practitioners and chemists to prescribe and sell generic medicines. How is the government promoting the usage of generic medicines? Under its Jan Aushadhi Scheme, the government has also opened generic medical shop franchises across the country to promote more and more awareness about generic medicines, especially among the common masses who cannot afford the costly brand-name
Read more