Generic medications will cost you less than branded versions
By: anvgelica19According FDA (U.S. Food and Drug administration, to get FDA approval, a generic medication must: contain bioequivalent active ingredients as the brand name medicine (inactive ingredients may vary), be identical in strength, dose form and route of administration; satisfy the same batch requirements for identity, strength, purity and quality; be manufactured under the same established standards of FDA's Good Manufacturing Practice regulations compulsory for innovator pharmaceuticals. To put it differently, their pharmacological effects are exactly the same as those of their branded versions.
Although generics are chemically identical to their branded versions, they are typically sold at considerable discounts from the brand name cost. It is estimated that generics save consumers $8 to $10 billion a year at retail pharmacies. Even much more money is saved when hospitals use generic medications.
The major reason for the comparatively low price of generics is that competition rises among manufacturers when drugs no longer are protected by patents. Companies spend less money on creating a generic drug, and are, hence, able to maintain profitability at a lower price to customers. The low costs allow many developing countries to easily afford them. For instance, Thailand is going to import millions of doses of the generic version of Plavix, a blood-thinning drug to forestall heart attacks, at a price of 3 US cents per dose from India, the leading manufacturer of generic medications.
Producers of generic medications do not need to spend money on discovering a medicine, and instead are able to reverse engineer known medication compounds to allow them to produce bioequivalent versions. Firms do not bear the burden of proving the safety and potency of the medicines through clinical tests, because these trials have already been conducted by the branded firm.
At times, generic versions of a drug have different colors, flavors, or combinations of inactive ingredients comparing to brand name drugs. According to the U.S. Trademark regulations, generic drugs are not allowed to look exactly like branded medications. Still, active ingredients in both preparations must be identical, ensuring that both have the same medicinal effects.
About The Author:
This article is written by a family doctor. At the author's website you will discover a 24/7 online pharmacy and pick out inexpensive generic medications.
