Generic drugs are an important concept that constitutes a significant part of medical treatments. And plays a crucial role in healthcare systems.
These are;
- Drugs that are released to the market after the patent period of a brand-name drug has expired
- And contain the same active ingredient, dose, and drug form.
Such drugs demonstrate the same effects as the original branded drugs. They also provide a more economical alternative in terms of cost.
The standout feature of generic drugs is that they are more affordable.
This is based on various reasons;
Generic drug manufacturers;
- do not have to cover the discovery,
- development,
- clinical trials,
- marketing,
- and advertising costs of the original drug.
This allows generic drug manufacturers to offer their products at lower prices. Secondly, competition at the point of entry into the market helps to keep the prices of generic drugs low. When a brand-name drug’s patent expires, it allows multiple companies to produce. And sell the same drug, leading to increased competition and lower prices.
FDA (Food and Drug Administration of the United States) approved generic drugs conform to the same quality and safety standards as patented drugs. This is important to ensure patient safety and effective treatment. Generic drugs exhibit the same bioequivalence,. Meaning they are absorbed and have the same effects in the body. Therefore, a generic drug can be used to achieve the same therapeutic effect as the original drug.
These drugs play a significant role in healthcare systems because they enhance access to healthcare services by being more cost-effective. Especially for individuals with chronic diseases, generic drugs facilitate access to treatment by reducing costs. This encourages patients to have regular access to their medications and continue their treatments.
Moreover, these drugs can reduce healthcare expenses, contributing to the sustainability of healthcare systems. Affordable and accessible healthcare is crucial in efforts to improve the overall health of the community. As a result, these drugs offer significant advantages such as;
- reducing treatment costs,
- making drugs more accessible to a broader population,
- and contributing to the sustainability of healthcare systems.
Therefore, generic drugs play an essential role in the modern world of medicine.
