What is the difference between generic medicine and Company medicine?

D. Generic drugs are copies of brand-name drugs that have exactly the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. In other words, their pharmacological effects are exactly the same as those of their brand-name counterparts.

What is the difference between original and generic medication?

Generic medicines: These medicines are biologically exactly the same as the original, innovator product. They have the same active ingredients, are the same strength, are used in the same way, have the same effect on the patient and the dose is also exactly the same.

What is the difference between generic and patent medicine?

The major difference between a brand-name pharmaceutical and its generic counterpart is neither chemistry nor quality, but whether the drug is still under patent protection by the company that initially developed it. When a company develops a new drug, it typically receives a patent that lasts 20 years.

Why generic medicines are cheaper?

Once the patent expires, other manufacturers duplicate and market their own versions of the drug. Since the manufacture of these generic drugs do not involve a repeat of the extensive clinical trials to prove their safety and efficacy, it costs less to develop them. Generic drugs are, therefore, cheaper.

Is generic medicine less effective?

Experts Agree: Generics Offer Same Safety and Effectiveness More from the FDA on generics . According to the American Medical Association (AMA) : “[O]ne of the primary ways physicians can practice cost-effective prescribing is by offering patients a generic medicine when one is available.”

How good is generic medicine?

Experts Agree: Generics Offer Same Safety and Effectiveness “[G]eneric drugs…are just as safe and just as effective as their brand-name counterparts, and they are a cost-effective way of achieving substantial savings.”

Why are generic drugs less expensive than innovator drugs?

The low price is only because generic drug manufacturers are usually not the ones who developed, lab-tested, and marketed the drug. They also did not have to pay patent fees for it—which means cheaper costs to manufacture and sell to the public.

Why are generic drugs less expensive than brand name drugs?

Generic medicines tend to cost less than their brand-name counterparts because they do not have to repeat animal and clinical (human) studies that were required of the brand-name medicines to demonstrate safety and effectiveness.

Why are generic drugs so much cheaper?

Why do doctors not recommend generic drugs?

The major reason why doctors may not prescribe unbranded generic medicine is the lack of confidence of physician and patients in their quality4. Aggressive promotion of branded generic medicines by the pharmaceutical companies further aggravates the problem.