Generic medicines are one of the rarest emblems of how even affordable things can be extremely high quality.
To start with, usually, any theorem is first proven, and then a conclusion is drawn. However, in this article, we will first conclude, and then we will prove why we are right about our conclusion.
Therefore, to conclude, generic medicines are perfectly healthy and have good qualities equal to those of branded medicines.
Let us prove now why we say so!
What Is Generic Medicine?
Generic medicines are pharmaceutical drugs that have the exact composition that of the branded medicines.
They follow international standards and hence are as effective as branded medicines. From the dosage of generic medicines to their side effects, generic medicines are an exact copy of branded medicines.
These medicines fall into the 'Essential Drug criteria' set by the World Health Organization (WHO).
Origin Of Generic Medicines
Generic medicines started taking roots in the late 1950s due to the regulatory changes that resulted after the thalidomide tragedy.
Thalidomide was a widely used drug in the late 1950s to treat nausea in pregnant women. However, it was soon found that this treatment caused severe congenital disabilities in thousands of children.
This incident brought to light the need for regulatory measures on critical components like medicines and the toxicity concerns.
Why Are Generic Medicines Affordable?
Generic medicines are affordable as compared to branded medicines, even when both have similar compositions and other factors.
To understand this discrepancy, let's start with understanding the procedure of their manufacturing process.
The companies determine the price of branded medicines, while the price of generic medicines can't be decided arbitrarily because the government intervenes in pricing these medicines.
Also, these companies do not need a separate laboratory for the medicinal research and development. Plus, generic manufacturers don't need to waste money on advertisements.
As they save a lot on these external factors, generic medicines cost much less than branded ones. However, generic medicines have certain licenses that need to be cleared, which we will look as a bonus information in this article itself.
Additionally, you will find huge competition among generic drug manufacturers, due to which prices get reduced.
Generic medicines are made and distributed without any patent. Generic they can be patented, but their material cannot be patented, which is another reason for the lower price.
Why Don't Physicians Prescribe Generic Medicines Despite Their Affordability?
Generic medicines being affordable is the crucial reason physicians do not prescribe medications.
Physicians don't get much margin on it, as these commercials are also a part of their profit. They will always push medicines that offer more margin even if the generic medicine of that company remains higher than other generic medicines.
Indian pharmaceutical industries have developed a culture of 'brand popularity, which is now so strong that a large section of doctors does not even know the actual composition of the brands they prescribe.
Also, even in public perception, the notion that branded drugs are the best in quality, efficacy, and generics, not since they are cheaper, has taken root completely.
Even if a mandate is made for doctors to prescribe them, it will not work without addressing the core state of affairs.
Interestingly, WHO has consistently noted that if doctors prescribe generic medicines, health expenditure can be reduced by 70% in developed and developing countries.
Do Generic Medicines Need a License?
Generic Medicines Need Permission and Licenses from The Concerned Authorities Before entering the market, as branded medicines are also necessary. They also have to go through all the quality checks like branded medicines.
According to the World Health Organization, if doctors started prescribing generic medicines, health expenditure could be reduced by 70% in developed and developing countries.
Generic medicine consumption is only 10-12 percent within the entire medicinal market. The selfish approach of the medicine manufacturer companies, medical stores, and doctors gives no space for the generic medicines in the market.
In today's world, almost all types of generic drugs are available at a lower price than branded medicines.