What's the difference between a generic and a brand name drug?
Not much, except for the brand name and the big difference in price.
See generic
equivalents to brand name medications reference chart.
The main advantage of the generic drugs is their price. Generic
drugs are less expensive because generic manufacturers don't have
the investment costs of the developer of a new drug. New drugs are
developed under patent protection. The patent protects the investment,
including research, development, marketing, and promotion, by giving
the company the sole right to sell the drug while it is in effect.
As patents near expiration, manufacturers can apply to the FDA to
sell generic versions. Because those manufacturers don't have the
same development costs, they can sell their product at substantial
discounts.
Also, once generic drugs are approved, there is greater competition,
which keeps the price down.
Today, almost half of all prescriptions are filled with generic
drugs.
What is the quality of generic drugs?
Generic drugs are as safe and effective as the brand-name
drugs. They are an exact copy of the brand-name drug, show
the same pharmacological effect, and have the same risks and benefits.
Sometimes the generic version of a drug may differ in color or shape
from its brand name counterpart - these differences should have
no effect on the medical action of the drug and are for commercial
or patent reasons only.
What are the manufacturing standards for generic drugs?
The manufacturing facilities of all pharmaceutical companies, whether
they are the makers of brand name or generic drugs, must pass stringent
and regular inspections by the relevant authorities. There is no
difference between the manufacturing standards set for generic pharmaceutical
companies and those set for brand name pharmaceutical companies.
Many companies that produce brand name drugs also make drugs sold
under generic labels and vise versa.
The prescription medications, Generic or Brand are manufactured
in facilities that have relevant approvals from the following regulatory
authorities:
1. Food and Drug Administration (FDA), USA
2. Medicines Control Agency (MCA), UK
3. Therapeutic Goods Administration (TGA), Australia
4. Medicines Control Council (MCC), South Africa
5. National Institute of Pharmacy (NIP), Hungary
6. Pharmaceutical Inspection Convention (PIC), Germany
7. World Health Organization (WHO)
These approvals are important and provide basic quality accreditation
standards and performance credentials for the pharmacies that appear
in our tables. We believe it is important that buyers to this site
know that their health and well being is not compromised.
These approvals are requested in addition to our own measures and
pharmacy ratings for best price, timeliness of delivery services
and customer feedback on product performance.
Why buy generic drugs?
Price, price and price. Save up to 60%. Why pay
more if you can get the same product and the same results for considerably
less money? In a survey conducted, the majority of pharmacists agreed
that generics are better than brand name drugs in terms of price
and as good as brand name drugs in terms of effectiveness, quality,
appearance and packaging.
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