Generic drugs are those medications, which are equivalent to their branded counterparts in terms of their effectiveness against diseases but at lower costs. Usually the perception about a low cost product is that there has been a compromise in the quality of that product. This is not so in case of generic medications and customers can learn what generic medications are and the reasons why they can be preferred over branded after they understand the following points:
1. Generic drugs use all the active ingredients found in the branded medicines that are responsible for curing the corresponding medical problems. Generic drugs use the same testing data and research carried out by the branded medications thus saving up on these costs.
2. Generic drugs can be developed once the patent of the branded medications expires.
3. Effectiveness of the generic medication is the same as the branded one.
4. The generic drugs producing facilities are designed and maintained as per FDA and WHO specifications. So they are completely safe and quality of drugs is strictly observed.
5. Generic drugs have to pass stringent quality and conformity tests to actually get permission for sale in the country. Set by the local governing agencies in both manufacturing and distribution locations, these tests guarantee that the efficacy of the generics is equivalent to the branded medications. Branded drugs undergo clinical trials before being sold in markets.
6. One of the main differences in the generics and branded drugs is that they have to appear distinct from each other such as in the appearance and packaging of the drugs.
7. And the most important of all advantages for generics is the cost difference. Customers can save almost 40-80% of the cost that they would have to incur if they purchased branded medications. This is due to a number of reasons including the manufacturing nation’s drug price control, optimization of the supply chain, etc. Translated in actual money, it means a saving of hundreds of dollars, which is a big financial boost for anyone in these hard times.