Why people prefer buying generic meds?

What are generic drugs?

Generic drug is a copy of a brand name drug which is produced and distributed without patent protection and the brand name. Generic grug is equal to the brand name drug in safety, mixture, dosage, quality, effect, and intended to treat the same disease. It works in your body the same amount of time as the brand name drug. Generic drugs consist of the same active ingredients and have chemical composition as brand name drugs, and all of them are approved by FDA. They are as safe and strong as brand name drugs, that is one of the requirements of FDA. To sum it up, almost every particular drug has 3 names: brand, generic and chemical. Chemical name is long and complicated, it describes its chemcal composition. That is why short generic name is used instead of it. Some manufactures sell that drug under their own brand name in order to make their product reconnizable in the market.

How do generic drugs come to the market?

Initially, new drugs are developed by innovator companies. These companies patent the new drugs to obtain the sole right to produce and sell them. This is done to protect and return the research, development and promotion investments. When the patents expire, other companies can apply to Food and Drug Administration to sell generic varieties of these drugs without patent.

Why people prefer generic drugs?

> Obviously, because they are much cheaper, while the qaulity and effect is the same.

Why are generic drugs so cheap? Where is tha catch?

No catch. Generic drugs are cheaper because the manufacturers don't have to invest in research, development and marketing of that product. But their active ingredients identical are the same as in brand name versions. All these expences have been incurred by the innovator companies that introduced the drug for the first time. To be more precise, the expences include the following: 1) research, drug development and testing costs 2) proving efficacy and safety of the drug in order to obtain regulatory approval 3) marketing and promotion That is why other manufacturers can sell the same generic drugs at lower price and still maintain profitability. Not just that, the manufacturers of generic drugs benefit from the markeing efforts the innovator companies make to push their new drugs. As a rule, generic variants appear several years after the introduction of the new drugs, when the patent expires and the drug is well known in the market. Or in the regions where the panent was not registered and even if the patent prove invalid.

Is there any difference between brand name and generic drugs?

Not much, actually. They are insignificant for you as for the patient who takes these drugs: click here for more detail