Paying exorbitant hospital bills is not easy. Moreover, the hefty expenses of medications are a nightmare. Common people look for respite from the rates of branded drugs . So in this case, are generic drugs the cheaper and better alternative? Generic drugs are the low-rate duplicates of known brands that manufacture drugs and have the exact same chemical composition, side-effects, prescribed use and even the same strength as their branded counterparts.
They differ in names and are usually named after the specific drug they are made of. The only distinction that lies between the brand or generic drugs is that branded drugs are clinically-approved and have a brand-value attached to the trademark, while on the other hand generic drugs are their cheaper and logo-less versions.
Evaluating generic drugs with respect to the branded ones:
- Some of the reasons behind the high rates of brand name drugs are:-
- The incurring expenses of manufacturing drugs in factories are high, thereby leading to a simultaneous increase in the market value of those drugs.
- Because of their widely recognized names, the money spent in the promotions and advertisements of branded drugs increase the value associated with the medicines.
- The drugs formed through advanced technologies undergo a series of pharmaceutical tests. If they fail to pass those tests then the entire money goes to waste. Thus, these branded drugs are generally priced higher as compared to the generic ones.
- The Food and Drug Administration ( FDA) Department has established that generic drugs are completely safe for consumption and approves them to be sold in markets at cheaper rates only after their branded equivalent is no longer available in the market.
- You get to reap the benefits of branded drugs at affordable prices and this makes generic drugs no less than a blessing to those who belong to the underprivileged sections of the society.
- Generic drugs are 100% certified and have same effects as a branded medicine would have.
Which one is better?
Therefore, the debate between the brand or generic drugs ends on an unbiased conclusion. None is better than the other, rather the sole difference lies in their prices. The cheaper rates increased the demand of generic drugs among the people of lower strata. But, this does not change the fact that branded drugs are original and generic medicines are exact copies of the same. So, you can opt for medicines that suit you economically and as prescribed by your physician.