Benefits of Generic Medicines

It is essential/necessary that generic medicine manufacturers meet the same high standards as the equivalent brand name medicine to secure approval from the FDA. The FDA requires generic medicine companies to ensure that they are substituted effectively and have identical clinical benefits to the brand name.

What are Generic medicines?

Generic Medicines in pharma are considered to be equivalent to the marketed brand name drug. The contrast between the two is that Generic Medicines are prescribed in dosage form with the strength, quality, performance characteristics, intended use, safety, and route of administration displayed. Generic medicines are also defined as any drugs that are marketed under their chemical name without the use of advertisement.

Benefits of Generic Medicines

FDA Approved :

It is essential/necessary that generic medicine manufacturers meet the same high standards as the equivalent brand name medicine to secure approval from the FDA. The FDA requires generic medicine companies to ensure that they are substituted effectively and have identical clinical benefits to the brand name.

Effective :

Generic medicines perform and provide similar clinical benefits in comparison to their brand-name counterpart. It is ensured that the generic medicine manufacturing companies adopt active pharmaceutical ingredients. This is done in order to ensure that the medicines provided to the consumer are safe and effective. This means that generic medicine manufacturers produce bioequivalent

Cost- efficient :

The cost of purchasing a Generic medicine/drug can be around 85% less than the bioequivalent brand name drug. This acts as a method to reduce the drug prices and increase the access to the affordable health care solutions.

For instance :

Immediately upon getting a fever a patient would consume a Crocin which costs around Rs30 for a strip of 15 where the bioequivalent of it paracetamol would cost Rs 14 for a strip of 15.

Easy to Find :

To find a generic medicine equivalent to a brand name counterpart is not complicated. Astonishingly there is a variety of well-known medications with a bioequivalent present in the generic medicine businesses in India. Over 60,000 generic drugs are available to the Indian consumers.

Jan Aushadhi :

Translated to “Medicine for People”, this program was launched by the Indian Government in 2008. It stated that unbranded quality medicines also known as Generic medicines will be made available for the poor people of the country. It is without a doubt that in a country like India it is essential to provide cost-effective healthcare. This is one of the main advantages of generic medicines and their manufacturing. The launch of the Jan Aushadhi scheme has proven to boost confidence amongst the citizens of the country. Hence proving that generic medicines are a boon.

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