What is the difference between the brands and the generic then? What does the term “Branded Drugs” and “Generic Drugs” exactly mean? Why the generics are priced lower than the brands? Are the Generics safe? These are some of the questions that one as consumer often ponders upon. These questions have always been at the top of the mind of the consumers. Here we try to illustrate the difference.
Branded drugs are drugs that hold their patent name while Generics are known by their chemical name. The Branded and the Generics have the same bioequivalence as compared to the brands. There is hardly any difference between the working of both these drugs. The active component of both these drugs also remains the same.
The concept of generic medications was introduced with the intention of making medications available to one and all. With the advent of the generic medications, every common man has the access to medications. The FDA (Food and Drug Administration) however based on its rules and regulation checks the quality and the efficiency of the drug. One can feel safe and secure whenever one is consuming an FDA or WHO (World health Organization) approved medication.
When it comes to the affordability part, the generics are obviously the favorite of the common man. The Generics account for maximum number of prescription. All the consumers have been choosing generics over brand as they are cost effective and competent at the same time. The generics are purposely priced low as keep their cost of production low by minimal advertising and promotion. On the other hand, the brands have to maintain their standards by spending lavishly on promotion and advertising.
This makes the selling price of the particular medication also high. The generics try to create a market for themselves by having a low profit margin again. This increases their consumer base. Similarly, there exist differences in the way they are packaged and designed. The quality and the price that matters to the consumers are solely considered by the generics. With online access to the generic medication, it has been really easy for one to buy them.