What You Should Know About Generic Medications The generic medications are much cheaper as compared to their branded counterparts. Through these, the consumers can save a lot of money every year when they would go for the generic ones instead of those branded medicines. These kinds of drugs may have very cheap pricing but they …
What You Should Know About Generic Medications The generic medications are much cheaper as compared to their branded counterparts. Through these, the consumers can save a lot of money every year when they would go for the generic ones instead of those branded medicines. These kinds of drugs may have very cheap pricing but they are similar to the branded ones in terms of chemical composition. Generic medications have the same active ingredients as their innovative counterparts. They also have the same strength, dosage as well as route of administration. You should know that the generic medications are just the same with the branded version. They are effective in dealing with the patients’ symptoms. Since they work similarly, the patient can expect the same quality without the need to spend so much money. The FDA is also able to provide the assurance that generic medications have the same purity, strength and stability like the branded counterparts. Only the company which developed the drug can sell it while the patent for such drugs are in effect. The patent is there to protect the company’s investments on drug development. This is why no other pharmaceutical company can actually sell or produce the drug. However, the exclusivity period eventually expires. So many of the patents that are given to drug companies last for 20 years. If the patent doesn’t cover the drug anymore, the pharmaceutical company may apply to the FDA for right to sell such drug as a generic product. To ensure that end users can receive the same care that they get from the branded medications, the FDA approves the generic drugs which are able to meet the highest standards. This is how the generic versions have become available to the public.
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Once the drug is no longer covered by the patent, companies apart from the primary developer can manufacture the drug and sell this a generic version. Other companies that want to join in the tray don’t need to invest on the drug development anymore. Because, there is no longer expenditure on certain aspects of patents and drug production, the costs are much less. This is the reason why the generic drugs are not that expensive like those branded ones. But, those companies producing the drugs for marketing to people must certainly fulfill the needed requirements offered by the FDA and they also prove that the drugs work like they should.
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But, you cannot find the generic counterpart in all of the branded drugs. Those drugs having the generic counterparts are safe to use though these medicines can be easily purchased from the pharmacy without any prescription from the doctor.