The medication of Branded-Generic drugs is created to be same as of already existing and marketed patent drugs be it in dosage form, safety, strength, route of administration, quality, performance characteristics, effectiveness and intended use of the drug. Branded-Generic drug makers certainly bring competition to the drug market because of their low-priced drugs. But still, some patients prefer using patented ones instead of Branded-Generic ones. Let’s look at the myths our population has in their minds regarding Branded-Generic medicines.
Myth 1: Many of you must have had this question quite a few times in your mind despite Branded-Generic drugs being cheaper assure you same quality and effectiveness as of patent drug how?
The fact behind this is Branded-Generic drugs are cheaper as compared to patent drugs because in that case, the manufacturers did not have to spend on the expenses of developing and marketing a new drug. Whenever a company introduces a new drug into the market, the company has already spent a substantial amount of money on research, development, marketing and promotion of the drug. All that the Branded-Generic drug manufacturers have to do is a basic level of marketing of the new Branded-Generic drug. A patent is henceforth granted to the firm that developed that very particular drug which further gives the company an exclusive right to sell the drug as long as the patent is in effect.
Myth 2: Branded-Generic drugs compromise on quality standards in the production phase.
It’s not true. The fact is the production of all Branded-Generic drugs follow the same quality standards for making, testing and packaging of drugs as the patented manufacturers do. In fact, sometimes, many Branded-Generic drugs are produced in the exact same factory where the patent drugs were produced following the same measures and standards as the patented drugs had gone through.
Myth 3: Branded-Generic Drug makers sell their products at slashed prices.
The reason why Branded-Generic drug makers can sell their product at lower prices is that their drugs do not compromise in terms of quality with patent drugs. Branded-Generic drug sellers sell at a lower price because they do not have to recover anything like their initial investment in research and development, clinical trials nor do they have to spend millions on tv commercials and marketing campaigns as the patented drug producers typically do. All they have done is spent an amount on the basic level of marketing of the newly launched drug. The Branded-Generic drug manufacturers can thus pass these cost savings on to their patients.
Myth 4: Branded-Generic drugs are not as effective as patent drugs.
It’s not true. Branded-Generic drugs have to prove bioequivalency with the patent drug showing that the drug works in the same manner in the human body as a patent drug does. Sometimes, Branded-Generic versions of the drug have different colors, flavors, or combinations of inactive ingredients than the original medications but don’t need to worry they have the same medicinal effects as patented ones.
As the expense of healthcare services keeps on taking off over the rate of inflation, Branded-Generics are an uncommon source of healthcare savings. As the above rundown shows, there’s no distinction in the adequacy or quality manufacturing standards among Branded-Generics and patented drugs. Surely, they are both frequently created in precisely the same generation plant under the very same conditions. While you may not feel any distinction in your body, you can unquestionably feel it in your pocket.