Why Are Generic Medicines Cheaper?
There has always been a debate over the production of Generic and Branded Drugs. And people including patients and medical experts have dissimilar opinions regarding the manufacturing of generic drugs. Generic medicines are generally cheaper in comparison to the cost of branded drugs and that also makes them a priority over the branded drugs. The reason is also responsible for cutting down the revenues of the branded ones.
Reasons Why Generic Medicines Are Cheaper
Difference Between Branded & Generic Drugs
Branded drugs are basically the first version of a medicine sold by the manufacturer. They are manufactured via a long process of research and investment.
Whereas, generic medicines are generally the copy of the branded ones with the same salt composition and have the same effects. They are released in the market as soon as the patent of a particular branded medicine expires.
Manufacturing of the Drugs
When it comes to branded drugs, the process of manufacturing is quite long. The pharmaceutical company responsible for bringing a particular product in the market have to go through lots of processes involving research, medical trials, and years of hard work.
On the other hand, the manufacturing of generic drugs doesn’t have to go through the difficult process of research and medical trials. After the patent of a particular medicine expires, a generic version of that medicine can be seen in a certain period of time in a price that is much lower than the cost of the branded drugs.
Read Also - Generic Drugs – Things You Need to Know
Cost & Investment
The investment required to manufacture a medical drug can be a lot sometimes. The cost spent on research, trials, and marketing of the drugs can be in millions. So, to recover that cost, branded drugs are sold at an expensive price in comparison to their copy.
The Composition of the Drugs
The chemical composition used in the branded and its generic version is same. So, the salt used in the branded one is the same as the one used in the generic version of a medicine.
Cost and Its Effects
Both the version i.e. branded and generic medicines have the same effects on the disease that a particular medicine is supposed to treat. This is one more reason that patients tend to buy the generic version because they are also low in cost.
Read Also - India – Global Leader in Generic Drugs