Generic drugs are pharmaceutical preparations that have the same active ingredients in the same amount as the most prominent drugs they are based on (the so-called “originating drugs”). Generic drugs derived from originator drugs differ most often in their composition of binding ingredients, colors, and other non-therapeutic effects. They are also distinguished by the names they bear.
Generic drugs are equivalent in therapeutic efficacy to their originator drug and must be confirmed by rigorous bioequivalence tests. This would be when the scientific comparison of the generic drug with the originator drug shows that the active substance is present in the body at the same rate and level of biological relevance if they are given at the same dosage. The generic drug and the original product must both be equally effective.
Patent rights on an originating medication expire at the moment that a generic product is available. Generic drugs can be purchased in the security and therapeutic senses for very little money. Generic drugs are more affordable because they don’t require clinical and basic research. This reduces investment. Generic drugs are widely used in all treatment programs worldwide and are being copied more often by doctors due to their lower cost (20-90% for originators). Generic drugs can be used to reduce the cost of every health system. Exempt funds can also be used to originating medicines.
Are Generic Medicines the Quality Medicines At Low Prices?
Generic drug manufacturers must use GMP-compliant ingredients. Generic drugs must meet the same quality, safety, and efficacy standards that originating pharmaceutical products.
What are the benefits of generic medicines?
Generic drugs have a high profit margin, which has led to society that provides quality, safe, and effective drugs for patients.
The estimated savings per year worldwide provide support to the health system and increase the budget that can go to expensive medical treatments and patient services.
The creation of a strong market and stimulation of innovation in the pharmaceutical industry is possible by creating a positive competition between generic drugs and originating medicines.