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What makes Generic Drugs popular?
Generic drug are a cheaper
version of the branded one and due to this cheaper price tag,
they're becoming very popular amongst patients and the medical
fraternity...
Date : December 29, 2005
Generic Drug are a cheaper version of the
branded one and due to this cheaper price tag, they're becoming
very popular amongst patients and the medical fraternity.
They're a copied version of brand-name drugs and are available
in both over-the-counter (OTC) and prescription form. But
always remember that being a copy does not make them an inferior
version as far as component and quality are concerned.
The best part about generic
drugs is their affordability and accessibility. They are
a blessing in disguise for those of you who are not in a position
to afford branded drugs as these drugs command roughly one-third
the price of brand-name medications bringing significant savings
for consumers. So, if you've any friend or relative who is
critically ill and not in a good financial condition to afford
the branded one then ask him to opt for a generic one.
Most of you must be wondering at times that
if generic drugs are equally effective as brand name drugs
then what makes them so cheap. Well, the key reason behind
the lower pricing of generic drug is that they don't face
the same development costs as brand-name companies. Under
the Drug Price Competition and Patent Term Restoration Act
of 1984, generic drug companies don't have to repeat expensive
clinical trials.
Generic drugs are bioequivalent; it means
that its active ingredient works in the same way and in the
same amount of time as the brand-name drug. Therefore generic
drugs work like a branded one but at a highly cheaper rate.
The popularity of these optional drug can be seen from the
fact that almost two decades ago, generics made up only 12
percent of all prescriptions and in today's scenario, it represent
over 50 percent of all prescriptions.
So, make generic a part of your life to
reduce your healthcare costs.
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