WHAT ARE GENERIC MEDICINES?
Generic drugs have the same active ingredients and concentrations as their brand-name counterparts. While they mirror the primary medications in terms of efficacy, they might differ regarding inactive ingredients and colouring. These differences do not influence the therapeutic benefits; each generic drug is distinguished by its unique name.
The effectiveness of generic medicines is on par with the original branded versions. This equivalence is demonstrated through detailed bio-equivalence studies. When comparing the two, it means that the generic medicine delivers the same therapeutic effects as the brand-name drug when taken in the same dosage. In simpler terms, a generic drug and its brand-name counterpart should be equally potent.
Once the patent for a brand-name drug expires and a bio-equivalent generic version is available, opting for the generic variant makes economic sense. This choice allows consumers to get the same therapeutic benefits at a reduced cost, thereby saving healthcare systems money. The savings can then be redirected to fund innovative medications.
ARE GENERIC MEDICATIONS QUALITY MEDICINES OFFERED AT AFFORDABLE PRICES?
Manufacturers of generic medicines adhere to the Good Manufacturing Practice (GMP) guidelines, ensuring the quality of their products. In essence, generic drugs undergo the same rigorous quality, safety, and efficacy checks as their brand-name versions.
WHAT ARE THE ADVANTAGES OF GENERIC MEDICINES?
Generic medicines offer numerous societal benefits by providing individuals with quality, safe, and effective medications.
Annual global savings from opting for generic drugs bolster healthcare systems and free up funds for essential treatments and services. Additionally, the competition between generic and brand-name medicines fosters an efficient market, promoting innovation within the pharmaceutical industry.
When a generic drug is compared with its brand-name counterpart, both should exhibit the same therapeutic effects when taken in identical dosages. With the expiration of patent rights on original medications, it becomes cost-effective and logical to choose generics. These choices, in turn, optimize the healthcare system’s expenditures, and the savings can be funnelled towards groundbreaking medications.