Why Generic medicines low cost accordingly to Branded Medicines?
Generic Medicines are generally called substitutes for Branded Medicines because they are composed of the same chemical composition and salts as Branded Medicines. Branded Medicines are very expensive and this is the reason why people are switching to Generic Medicines because they cost little compared to brand name drugs. With the increasing demand, many of the manufacturers have created their own generic medicines. The increased demand for these Generic Medicines has opened a new market for manufacturers and they are earning a great income by investing in these generic drug markets.
There are government bodies such as the FDA that ensure that these Generic Medicines are safe for consumption and have the same effect as Branded Medicines. Generic Medicines are formed when the patent protection law of brand name medicines expires. The duration of the patent protection law differs from one country to another and, upon the expiration of this patent law, manufacturers in the industry may choose to manufacture generic medicines of the same brand medicine.
The low price of Generic Medicines forces people to think that they cost little because they are low-quality medicines, but this is not the case. Its cost is low because its production cost is not as high as Branded Medicines since they are prepared with the same salt and formula as Branded Medicines. This is the main reason why they cost less. Due to this low cost, people think that they take longer to show their effects. This is also not the case, they have the same effect as branded drugs and cost less because manufacturers do not have to bear too much of the cost of production.
At some point, these Generic Medicines look different in terms of colors, shape, and size, since in some countries such as the US trademark laws. They do not allow generic versions of brand name drugs to look exactly alike, but the ingredients, the composition of the salt and everything else have to be the same. Generic Medicines should also have the same effect as brand name drugs, so they will only be called as substitutes.
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