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Are Generic Medicines really cheaper

Are Generic Medicines really cheaper

Generic medicine is defined as a substitute of a branded medicine with respect to some properties. Why is it sold at lower cost than the brand name medicines? Let's have some research:
The main reason for cheaper price of generic medicine is that their manufacturing companies don't have much overhead cost. Therefore they can offer these medicines at lower price and still maintain their advisability.
A generic medicine manufacturer has enough information from the studies done by the brand manufacturing company, so they don't have to spend money on research work. By claiming their drug as a bioequivalent, they don't have to spend money to put their medicine on clinical trials. Also, due to extensive marketing of the innovator brand, they just claim their product to be equivalent to it and benefit from the market value of the brand name medicine.
The generic medicines can offer some exceptionally effective solution in while treating some serious diseases in amazingly small price range as compared to prescription drugs. Brand-name firms are linked to an estimated 50 percent of generic drug production. They frequently make copies of their own or other brand-name drugs but sell them without the brand name.



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