Cheap Generic Drugs

Why Are Generic Drugs Cheaper?

Generic medicines are usually less expensive than their brand name equivalents. This is because the investment in discovering them is not required, and because they are essentially copy products, the investment in developing them is less intensive.

Original brand name drugs usually have 20 years patent protection from initial discovery of the molecule before copy generic medicines can be marketed along side them. However research has shown that after discovery the average drug takes approximately 12 years to develop and costs several hundred million dollars from initial discovery to public release. This may mean that the original manufacturer has only a few short years of exclusivity in the market before the copy medicines are introduced.

Manufacturers of brand name products must therefore charge a price that will recoup the research and development costs of their new drug when it finally reaches the market. Following approval to sell a new drug, there are additional large costs required to promote the product and educate medical professionals in its use.

The costs associated with the research, development and marketing of new drugs are the main reasons for the price differences between brand name drugs and the generic drugs that follow when their patents have expired. Without the need for the large initial investments, a company which manufactures generic products can manufacture copies of brand name drugs and provide these as comparatively cheap drugs for patients.

Switching to Generics

Many brand name drugs have generic equivalents available. In some countries over half of all prescriptions filled are for generic medicines. This is expected to increase over the next decade. This does not mean that all of these generic medicines will be supplied on generic prescriptions because in some countries pharmacists are allowed to substitute a generic medicine on prescriptions even though a brand name product may have initially been prescribed. However usually this is only done when the Doctor approves it.

The figures do indicate that generic medicines are widely accepted by medical professionals and patients. Many insurance plans also encourage patients to accept generic medicines over their brand name counterparts whenever it's medically safe. This level of use demonstrates the widespread acceptance of generic medicines as discount prescription drug alternatives so long as the quality is assured.

Summary

A generic prescription drug is usually a discount prescription drug. However this does not mean it is a lower quality product so long as it is sourced from a country that has strong regulations controlling the standards that generic pharmaceuticals must meet in order to be available there. For further information on cheap generic drugs visit NationDrugs.to.

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Cheap Generic Drugs