In India, many people are influenced by the brand of a product. For them, brands matter not only for cosmetics, clothing, food, accessories, but also medicines. They share the common belief that generic medicines may be available at lower prices and hence may be of substandard quality.
But let's find out the reality!
Generic medicines are chemically similar to brand-name medicines. They are accepted around the world and are of similar quality at a lower cost than brand-name medicines. Plus, it's easy to get generic medicines 24/7 order medicines online or directly from a pharmacy near you. Generics are proving to be an excellent alternative to branded medicines, as they are bioequivalent or similar to branded medicines with comparable therapeutic effects. Apart from not sacrificing quality, it is also cost-effective as R&D and drug research costs are not included in the case of generic medicines.
Lack of awareness
India is the third-largest producer of generic medicines in the world. Currently, Indian pharmaceutical companies supply 80% of the world's antiretroviral medicines. However, there is a lack of awareness about the importance of generic medicines.
With over-the-counter (OTC) medicines, many people are more familiar with the brand name of the drug than the generic name of the drug.
- In most cases, pharmacists will dispense prescription medicines, and doctors will also prescribe a branded drug upon request, even if a generic drug is available.
Generics are not advertised well enough.
This is the reason why there is a lack of awareness about generic medicines. So it is not the responsibility of the government to support generic medicines, rather we all need to take initiative to support generic medicines. Recently, these initiatives have already been started by some state governments in India.
Why prefer generics?
They are accepted worldwide and provide significant savings in addition to quality treatment.
They have similar action and clinical benefits to brand-name medicines.
- Today it is easy to get generic medicines directly from pharmacies online 24 hours a day.
- They share the same dosage form (capsules/tablets), strength, quality, stability, safety, efficacy, route of administration (oral/topical), and performance characteristics.
- The generics are manufactured in GMP certified production units and hence the quality of the generics is not compromised.
Benefits of generics
- Same therapeutic effect at a lower cost: Branded medicines and generic medicines both have the same therapeutic effect.
But generic medicines can cost 60-80% less than branded medicines.
- Ease of availability: Generics can be easily obtained from online pharmacy 24 hours a day with maximum discounts
The difference in the price of generic and branded medicines.
One of the main reasons for the support of generic medicines in India is the low cost of generic medicines. More than 70% of India's population lives in rural areas, of which 35% live below the poverty line. You cannot buy expensive branded medicines. There is a huge difference in the prices of generic and branded medicines.
Quality and profitability
Most people are concerned about the quality and effectiveness of generic medicines as generic medicines are not as expensive as compared to brand-name medicines. But the quality of generics is never compromised.
These are only profitable in the form of research and development, and not the cost of drug discovery as in the case of generics. You can rely on clinical data submitted by the investigator's company for the drug's safety profile.
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