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Think Generics First!

March 10, 2010 By: Tylar Masters Category: Prescription Savings

Generic drugs are a safe and effective alternative for many reasons.

Not only individuals who require inexpensive health care alternatives commonly opt to use generics, but for economic reasons, everyone should think generics first. Generic drugs use the same active ingredients and carry the same side effects as their brand name counterpart. Generics and brand-name drugs are identical in their safety, purpose, effectiveness, and administration method. By identical, it could be defined as the drugs have identical active components or employ a bioequivalent composition of the brand-name equivalent. They are deemed bioequivalent if their pace and accessibility after being given in an identical quantity have like effects. Having parallel effects, both medicine forms have the same effects and amount of effectiveness.

You may ask, if brand name and generic medicines are so similar, why are brand name drugs more inexpensive than generic drugs? The expensive price of branded drugs stem from their research, process, and promotion. Since the brand name drug is recently made, a copyright is provided to grant them sole rights in selling the medicine. When these branded medicines are nearing their patent termination, other manufacturers go to the Food and Drug Administration to permit them to manufacture the generics.

Generic drug manufacturers don’t have a patent, thus the logic for their lesser price. Other generics can have a patent for the composition but not for the active ingredient. Because the generic manufacturers only have to apply and have no initial R&D prices, they can offer the drug at a smaller cost. Economics also have a function in the generic drug’s cheaper value. Since more producers can produce a generic version, there is higher competition in the economy. For one manufacturer to have a lead against the other, they must sell the medicine at a less expensive cost. With more customers, they can opt to have sales at a cheaper value.

Since generic drugs get their smaller prices from economic factors, it’s evident that a medicine’s value does not determine its quality. Some people are under the misconception that generic drugs have a smaller cost because they’re not as effective. Prior to reaching such a conclusion, you need to do research and comprehend the costing process behind it. The Food and Drug Administration makes certain that generic producers adhere to their criteria. These criteria are implemented to branded and generic medicine companies. Anyone with this price misreading should also know that 50 percent of the generics produced are done by branded manufacturers. Don’t be alarmed if the generic version applies a different combination of inactive ingredients. The differences also stem from a copyright issue. US copyright laws require that generics cannot look identical as the brand-name equivalent. Nonetheless, the generic will still use the same active ingredient process and mix to cause identical efficacy and results.

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