Generic Medications Info
What is a Generic Medicine?
A generic drug is a drug which is bioequivalent (the same) to a brand name drug with respect to pharmacokinetic and pharmacodynamic properties, but is normally sold for a lower price. Generic medicines contain the same active ingredient at the same strength as the "innovator" brand, they are bioequivalent, and meet the same requirements for the preparation. Therefore, generics are identical in dose, strength, safety, efficacy, and intended use.
Why Generic Medicines are cheaper?
The principal reason for the reduced cost of generic medicines is that these are manufactured by pharmaceutical companies, often located in India, which do not invest in research and development into new drugs, they only copy the designs of existing drugs. These companies also do not pay for television or radio advertising; the drugs they are selling have been on the market for usually a decade or more and do not need additional advertising. For the same reason, generic manufacturers also do not give away sample doses to promote their products. The significant research and development and marketing costs incurred by the large pharmaceutical companies in bringing a new drug to the market is often cited as the reason for the high cost of new agents - they wish to recover these costs before the patent expires. Generic manufacturers do not incur these costs, with bioequivalence testing and the actual manufacturing process costing relatively little, and are able to charge significantly less than the "innovator" brand.
Generic and brand-name medicines: Is there a real difference in the effectiveness of the two?
Doctors, scientists and other researchers say no. The Federal Drug Administration requires all drugs to be safe and effective. So since generic drugs use the same active ingredients and work the same way in the body as brand-name drugs, they have the same benefits and risks as their brand-name counterparts.