Generic Drugs: Affordable And Effective
Generic drugs have become a widely chosen alternative to brand-name drugs. But what have contributed to their rise? Why do people prefer generic drugs?
What are generic drugs?
Generic drugs are those medicines that are created to be the same as an existing approved brand-name drug in form, dosage, strength, safety and quality. In other words, a generic version of a drug can be produced and sold only when the patent of a brand- name expires.
What are the benefits of using generic drugs?
There are several benefits of using generic drugs. Some of them are:
The primary reason why many people prefer generic drugs over brand-name drugs is that they are cheaper hence are more affordable. The cost of generic drugs is usually 50-80% less than brand name drugs.
Generic drugs don’t have to undergo development process from the scratch, therefore their cost is less but the therapeutic effect of generic medicines is same as that of their brand-name counterparts. Thus, generic drugs are a cost-effective alternative for people who don’t want to spend large amount of money on brand-name drugs.
Safe and effective
Generic medicines undergo various tests before getting the green signal. These medicines are stringently reviewed by the FDA to ensure that they meet required quality and safety standards. Also, generic medicines work in the same manner and provide the same benefits as its brand-name counterparts. Hence, generic drugs are as safe and effective as the brand-name drugs.
The manufacturers of the generic drugs are required to demonstrate that the drug can be substituted and provide the same benefit as its brand-name counterparts. The FDA doesn’t approve of drugs that are of substandard quality.
Myths about generic medicines
Certain myths associated with generic drugs are:
Brand-name drugs are better
Brand-name drugs are safer
Low quality ingredients are used in generic drugs
These are myths as a generic drug can only be approved by FDA after it is proved to be as effective and safe as brand-name drugs by its manufacturers.