Like every product, the medicine department also confronts us with a fog of confusion on whether to take a generic drug or a branded. While some say, if you choose the former, it’s just like your branded drug but pocket-friendly. Here’s a detailed account on what generic drugs do.
What is a generic drug?
Whenever a new discovery on a chemical is made in the pharmaceutical industry, which no one has ever formulated before, it is patented. Now, this patent lasts for only 20 years. Now, when this new chemical discovery hits the market (which usually takes 10-15 years), the new medication claims itself the brand leader. And eventually, when its patent expires, other pharmaceutical companies may formulate the identical chemical into copies, launch it in the market and claim it as a generic drug.
What do generic drugs contain?
Generic drugs contain three types of ingredients:
1. A pseudo-generic or clone medication: This is quite similar to the aspects of a brand leader. Minus the name and the same details on its product label. There are many cases where the pseudo-generic or the clone medication is formulated from the brand leader’s factory itself.
2. Licensed generic: Licensed generic products are derived from the same chemical processes as the brand leader but they are made by some other company(s) situated in some other location(s). In a nutshell, this company has bought the chemical formulation to reform the drug.
3. True generic: True generic means that the company which manufactured the drug has formulated their own chemical processes possessing the active ingredient.
Why are generic drugs cheaper than branded?
Generic drugs are affordable than branded because the manufacturers of generic drugs need not invent any amount of money for its initial discovery, patent processes etc. Although, one must bear in mind that not all medications have its generic formulation.
As unfair it may seem sometimes, but generic drugs have an immense scope in the market than the branded medications. One must also notice that the countries which bear large population, generic drug market is considered a winner there. Because not everyone can afford a branded drug.
Are generic drugs safe to consume?
To be listed as an authentic drug, the generic medication must possess the active ingredient in 80%-120% in it. If it does, it is claimed to be a safe and authentic generic drug to consume.