Generic drugs Counterparts of branded drugs
Generic medicines are replica of brand-name medicines that have closely the same quantity, intended use, effects, and side effects, method of administration, threats, safety, and strength as the original drug. In other words, their pharmacological properties are exactly the same as those of their brand-name counterparts. Generic medicines maintain the original formula and dynamic components of the formerly researched drug. Generic drugs just catch a shortcut to patenting procedure and the research process and these two reasons make all the distinction in the cost of the generic drug.
All generic medicines are reviewed and approved by the United States Food and Drug Administration (FDA) or in other countries, by a corresponding centralized regulatory body. Generics are usually much less expensive than their brand name counterparts. This price difference is chiefly due to the high cost of research and development and promoting associated with producing brand name drugs. Generic medicines are less expensive to produce because manufacturers of generic medicines do not have the study, development, advertising and marketing costs that the developer of a new drug has. This permits the producer to sell their products for lesser price.