Generic drugs are cheaper than their branded counterparts are. Consumers save billions of dollars every year when they opt for generic over branded medicine. Both of these types of drugs could be light-years away concerning pricing, but they are identical in terms of chemical composition.
Depending on their innovator counterparts, generic drugs contain exactly the identical active ingredients, have the same signs, and therefore are bioequivalent such they have exactly the same dosage, strength, and route of administration.
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Just how similar are generic medications to branded medications?
Since generic drugs are essentially similar to branded versions, they're equally effective in dealing with the symptoms the patient present. Since they work in precisely the same style, the patient can expect the same quality at a far lower cost.
How can drug patents do the job?
While the patent for those medication are in effect, only the firm that developed the drug can sell it. The patent is intended to protect the investments made by the business on drug development.
As soon as it's in effect, no other pharmaceutical company can produce or sell the medication. The majority of the patents which are awarded to drug companies last for 20 decades. To ensure that end-users receive the same quality of care they receive from branded drugs.
Why are generic drugs cheaper than branded medications?
When a drug is no longer covered by a patent, companies aside from the primary developer can then produce the drug and market it like a generic variant. The other companies that decide to join in the fray don't have to spend on drug development anymore.
Since there's absolutely no requirement to spend on certain facets of drug creation and patents, the costs incurred are less. This is the main reason generic drugs do not cost up to branded ones.