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General Information About Generic Drug
The pharmaceutical industry has a huge specter of producing different kinds of drugs which have to be licensed for use in hospitals and other health care institutions as medications. Companies which are related to this kind of sphere of activities can produce brand or generic medications. Before acquisition of license for selling a particular drug, the company should go through a variety of different regulations, testing procedures, ensuring safety and other laws.
Everybody knows what the brand medications are, but what is generic medication? Is it worse kind of medicine? Now, it’s time to examine it in some details.
A basic definition for a generic drug is a medication that is comparable to brand one in quality, dosage, characteristics and use, but sold under the international non-proprietary name or under a brand name that is different from the drug developer’s name. Generic medicine must contain the same ingredients as the original formula. In the majority of cases, generic drugs are available when the patent protection of brand drugs has expired. Generally, generics in their strength do not differ from the brand drugs, but they are much cheaper. Sometimes during the prescription, the brand drug can be substituted with generic one. For better distinction the names of generics have affixes which are helping to separate drugs.
The advantages of generic drugs include lower price (due to lack of development costs, clinical trials or license fees), as well as extensive experience of practical application of the drug. In 2006, the brand companies started a movement for the release of generics by themselves so as not to lose the benefit which nowadays goes to companies in China and India. The reasons why is because of drug’s quality and strength which are similar to the brand one. The generic drug companies do not invest enough money in the conduction of clinical trials of its products, as do the manufacturers, who brought a new drug first to market.