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A generic medicine is a pharmaceutical drug with the same chemical substance as a drug already concealed by chemical patents. Generic drugs get permission to sale after the patent on the original medicines expires.
Since they have the same active chemical substance, the medical profile of generics is equivalent in performance. Generic medicine has the same API (active pharmaceutical ingredient) as the original, but it may vary in some characteristics such as formulation, manufacturing process, taste, color, and packaging.
Why are Generic medicines cheap?
Many people’s primary concern is why generic drugs are substantially available at lesser rates than the brand-name versions. They wonder if there is a compromise with brand-name drugs’ quality and effectiveness to make a less expensive product. The US Food and Drug Administration (FDA) requires that generic medicines be as safe and effective as brand-name drugs.
Generic medicines are cheaper only because the manufacturers need not deal with developing and marketing a new drug. When a company launches a new drug onto the market, the organization has already spent considerable money developing, research, promoting, and marketing the drug. When a medicine grants a patent, the company that manufactured the drug gets an exclusive right to sell the drug in the market as long as the patent is in effect.
What is the difference between branded and generic medicine?
Generic drugs are replicas of brand name drugs that have precisely the exact dosage, effects, intended use, administration route, side effects, safety, risks, and strength as the original drug. In simpler terms, the pharmacological effects of generics are precise as those of their brand-name counterparts.
For example, the generic drug for diabetes is metformin. And the brand name for metformin is Glucophage. Generic medicine for hypertension is metoprolol, whereas the brand name of the same medicine is Lopressor.
We should write the initial of a brand name in capital letters which generic names need not be capitalized.
Are generic drugs less effective?
There is no truth or reality in the myths that generic drugs have their manufacturing in poor-quality facilities or are inferior in quality to brand-name drugs. The FDA implements the same standards for all drug manufacturing facilities, and many organizations manufacture both brand-name and generic medications. The Food and Drug Administration (FDA) estimates that 50% of generic drug production is by brand-name firms.
Another common myth concerning generics is that generic drugs take a longer duration to work. The FDA confirms that the generic medicines work as effectively and fast as the original brand-name companies.
How do you get a generic medicine name?
When the patent of a brand name medicine near expiry, manufactures can send an application to the FDA for permission to manufacture and sell generic versions of the drug. Without the startup expense for drug development, other firms can afford to make and sell it more cheaply. When multiple companies start producing and selling a drug, their competitiveness due to the pure competition market leads to further price down.
Where can I buy generic medicine?
You can purchase generic medicine from your nearest pharmacy store. It is available at government hospitals and government-aided medical stores also.
You can buy generic medicine from a trusted online pharmacy without hassle. Compare the rate at which the medication is available at different sites. Before ordering the drug, check the shipping and delivery services.
It is readily available in the market, but you can avail of it at discounted online pharmacies rates.
Should I buy generic drugs?
Yes, you should buy generic drugs. Generics are low-cost variants of branded medicines. They have the same active ingredients in the exact dosage as branded drugs. They are easy on the pocket and equally effective.
The branded drug industry demands a colossal expense in research and development, branding, and marketing. Generic drugs are considerably more affordable because they have minimal cost regarding research, development, branding, and marketing.
People have gradually become aware of generic medicine, and the government plays a significant role in it. However, the quantity is still deficient. Further, there is an issue of acquiring this medicine from reliable sources since many less effective or spurious drugs are also present in the market. It would be best if one always bought generics from trustworthy brands and outlets.