Advantages and Disadvantages of Generic Medicines
Evidently, Generic medicines exhibit the same effects and results as brand-names drugs. Let’s crack on to more uses, differences, the advantages and disadvantages of Generic Medicines.
What are Generic Medicines?
Generic Drugs are pharmaceutical medicines that contain the same elements and constituents and are safe for use. These drugs are not patented by any brand and have a lower cost than the brand-name patent drugs. Generic drugs are safe and can be availed at any licensed druggist or pharmacist.
What is the difference between Branded and Generic Drugs?
The key difference between brand-name drugs and generic drugs is pricing. Containing the same active ingredients as that of a brand name medicine, generic drugs are no different from their counterpart in manufacturing and packaging.
Like every patented drug, generic drugs also must pass basic and in-depth quality standards before reaching the customers. as its brand-name counterparts.
The USA Food and Drug Association approves generic drugs only after testing it for purity, strength, potency, and quality.
What are the Advantages of Generic Medicines?
Manufacturers aim to provide generic medicines at a comparatively lower price to people. There are many benefits of generic drugs that a pharmacist will be reluctant to tell you.
1. Generic Drugs are Accessible to the Poor
For people with limited income sources, the FDA approved generic medicines are the best way to cut extra expenses for treatment. Generic drugs comply with branded-drugs that patients can get from a local pharmacist. Deterring the symptoms and ailments the same as patent drugs, generic drugs are easily affordable to the economically weaker people.
2. Generic Medicines are Money SaverThe cost of Generic drugs is approximately 85% less than the brand-names drugs and give more freedom to people to save money. Several studies documented by the FDA reveal that duplicated drugs can cut your prescription cost to a greater extent.
3. Duplicated Drugs are Reliable Substitute to Brand-Name Drugs
Being as effective as their brand-name counterpart, generic medicine is bioequivalent to the expensive drugs available in the market. Generic Medicines follow the same dosage, intended use, effects/side effects, risks, safety, and strength as the branded drug. The pharmacological effects of a duplicated drug are identical which is why around 90% of the US-Population prefer to buy these medicines as a suitable alternative.Bonus Read: Benefits and Risks of Acetaminophen
4. Cost-Efficient for Healthcare Systems
Many government-run healthcare facilities prescribe generic medicines to patients. The primary reason for doing so is to reduce additional costs and cater to the needy without causing any trouble. Not only the patients, but generic medicines are easy to avail for the administrative medical service provider.
Making generic cheaper and more accessible to common people, the possibility of keeping people disease-free is higher. Ease of access to medicines encourages patients to reduce future health worries.
5. Generic Drugs are easy to Manufacture
The most basic and essential research is conducted by brand-name drug manufacturers. This means generic drug companies have lower costs to incur while deducing the exact copy of the pharmacological components of a particular drug. Marketing a generic product comes next to R&D. Since generic medicines are not marketed a manufacturer can easily save additional costs.
What are the Disadvantages of Generic Medicines?
Despite their availability at cheaper costs, generic drugs are still under suspicion and some people prefer to buy expensive medicines. These are some reasons and also the downsides of generic medicines according to concerning reports.
1. Cost Raises Suspicion Among Many Patients
Some patients find a substantial difference in costs suspicious and are hard to convince that generic drugs are bioequivalent to brand-name drugs. The next doubt that hits their senses is if a generic drug is useful? Is a generic drug as effective as a branded drug? Along come many questions on the quality and safety standards followed during the development of a duplicated drug.
2. Misconceptions and Doubts
Generic drugs are cheaper and are manufactured based on the primitive research and developmental phases by the brand patent. People misconceive generic drugs to be less effective and riskier as they tend to believe that duplicated drugs are manufactured under poor-quality establishments.
Generic medicines are believed to be developed in units that are inferior in terms of following quality and hygiene standards.
3. Generic Medicines appear different than Brand-Name Drugs
Sometimes, appearance can be enough to drive patients away from generic drugs. Due to Trademark laws, a generic drug manufacturer is prohibited to copy the exact looks of brand-name drugs. The duplicate drug is hard to accept in the market when it reaches the patients in a different color and packaging.
If you follow a repetitive prescription, you are most likely to find different colors and packaging for your next refill. This sometimes can trigger confusion and doubts among many consumers.Also Check: Best Cancer Treatment Hospitals in USA
4. Customers are hard to Convince
Given the above shortcomings, manufacturers of generic drugs have to cover more efforts to reach the end-users to sell their aid. There is a rigorous competition between brand-name drugs and generic manufacturers due to restrictive trademark policies. Many generic medicine developers have to struggle more to convince customers of the efficacy and bioequivalence of duplicated drugs.
Customer acceptance is the biggest of the challenges faced by generic medicine providers even after offering these drugs at the lowest price. Without promoting or marketing strategies, customers are a hard find.
Even though generic medicines go through rigorous standard tests and quality checks prior to obtaining approval, convincing the end-users is a hard pill to swallow for many generic drug developers. Due to a vast number of pharmaceutical companies, the drug market follows more stringent policies. In the race to dominate the market, many pharma organizations do not discourage the production of generic drugs.
However, doctors can assist needy patients by encouraging them to use generic drugs in case of fiscal problems.