Generic Drugs, Are They as Good as Brand Names?
The generic drugs may look different in terms of look and packaging but they work the same as their costlier branded counterpart. They have the same chemical composition as the brand name products.
Most of us concerned about the effectiveness of generic drugs as they are a lot cheaper than their brand-name versions. That makes us wonder if generic prescription drugs have compromised on drugs’ effectiveness and quality.
Before that first, you need to understand that, to get into the market every drug needs approval from the FDA (U.S. Food and Drug Administration). In order to get approval, generic drugs need to have the same medical effectiveness and quality as brand name drugs.
What are branded Name Drugs?
The brand name drug is the original medicine developed and marketed by a pharmaceutical company. The pharmaceutical companies do extensive research, tests, and evaluations to create effective and safe medicine for human use. As they invest a large amount of money to discover a new drug company files for the exclusive patent right to sell and market the drug for a period of time. After the procurement of a patent, no other company can make and sell the copies of the drug until the patent is valid.
Once a new drug is discovered, the company files for a patent to protect against other companies making copies and selling the drug. Because of the exclusive right, branded drugs are well known more trusted to cure a medical condition.
Know more: Generic Vs. Brand name drugs
Difference between Generic and brand name drugs
What is a generic drug?
A generic drug is a pharmaceutical drug that has the same chemical ingredients as the original patented drug and it should have the same safety, strength, effectiveness, quality, and performance characteristics as of innovator product. Which is manufactured without the patent license from the original brand-name company after the expiry of exclusive patent rights?
Why Generic Drug Cheaper?
Generic drugs cost does not include the expenses of research, development, and marketing of a new drug. When a company introduces a new drug it’s already lots of money on medical research, development tests, and marketing of the new drug. Then it receives a patent to exclusive rights to sell the drug until the patent license is in effect.
So it’s only a myth that generic drugs are poorly manufactured and inferior in quality to brand-name drugs. Another common myth is that generic drugs take time to effect. But FDA rules are the same for all drug manufacturing companies and the drug should meet the same quality standards and work as fast as their brand-name counterparts.
So what to choose Generic vs Brand-name?
If your doctor prescribes you a generic version of your medicine you should take it without anything to worry. Brand-Name medicines are not always a better option most of them are way expensive than generic drugs. So sometimes people stop taking their medicines as too expensive for them to continue.
In this case, generic-drugs emerge as a winner. In many countries, doctors are required to prescribe the Chemical name of the drug other than Brand-name. So patients can opt for a generic version of the medication.
According to a report, the world can save as much as $5.9 billion if more prescribers go for generic for brand-name drugs. And adding to that there is absolutely no proof that generic-drugs are lesser in effectiveness and safety than the brand-name.
Though the researchers will keep looking into the effectiveness of generic versus brand-name drugs.