Generic Medicines: Illness takes a toll on your health as well as your pocket. Most of the people say that the doctors, in connivance with the companies, prescribe only branded medicines to the patients. In return, the doctors are given huge commission and other benefits. To get rid of patients from this, the government is emphasizing on the use of generic medicines.
If someone in the family gets a serious illness, then the budget of the whole house gets spoiled and a major part of the earning is spent on medicines. In such a situation, people are becoming very aware of cheap generic medicines. Let us know today what is the difference between branded and generic medicines and why generic medicines are cheaper?
difference between generic and branded medicine
Companies do research for the treatment of diseases and make salts based on that. Which is stored in the form of tablet, capsule or other medicines. Different companies prepare the same salt with different names and sell it at different prices. A special committee decides the generic name of the salt. The generic name of salt is same all over the world. There can be a difference of 5 to 10 times in the price of branded medicine and generic medicine of the same salt. Sometimes there is a difference of up to 90 percent in their prices.
Medicines are made by mixing different chemicals based on a formula. Suppose there is some medicine for fever. If a big company makes this medicine, then it becomes branded. However, the company only gives a name to that medicine. Whereas, when a small company makes this medicine, it is called a generic medicine. However, there is no difference in the effect of these two. The only difference is the name and brand. According to experts, medicines are made of molecules and salts. That’s why while buying medicine, focus should be on its salt, not on the brand or company.
generic drug quality
There is a patent on the formula of a generic medicine, but there is no patent on their material. Generic medicines made on international standards have the same effect as branded medicines. Dosage and side effects of generic drugs are similar to those of branded drugs.
Why are generic medicines cheaper?
Companies decide the price of patent branded medicines. A lot of money is spent on their research, development, marketing, promotion and branding. Whereas, there is direct manufacturing of generic medicines. Their trials have already been done. The price of generic medicines is fixed by the intervention of the government and nothing is spent on their promotion.
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