Generic drugs are the drugs that are prepared by following the same formulation of the corresponding branded drugs. Generic drugs are distributed and produced without the patent protection. Generic drugs can also have the patent on the formulation but not on the active constituent. Generic drugs are chemically identical to the branded drugs. Generic drugs are copies of brand-name drugs that have exactly the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. Generic drugs are marketed under a non-proprietary or approved name rather than a proprietary or brand name.
Generic drugs can be legally produced for drugs where: 1) the patent has expired, 2) the generic company certifies the brand company’s patents are either invalid, unenforceable or will not be infringed, 3) for drugs which have never held patents, or 4) in countries where a patent(s) is/are not in force.[citation needed] The expiration of a patent removes the monopoly of the patent holder on drug sales licensing. Comparatively inexpensive generic drugs are marketed both by generic drug companies and by manufacturers of well-known brands. The bioequivalence of generic drugs is typically tested by giving a single oral dose to 24 to 36 healthy human volunteers. If the generic drugs don’t show any side effects in these human volunteers and works exactly like the branded drug then the generic drug is approved.
Nowadays, the good time has come for the generic drug manufacturers as generic drugs are getting the good hold in the market now. Previously they were considered as the poor quality drugs, but it was proved false. Generic drugs have now captured the pharmacy market in world by acquiring around 60% of the sales of the drugs.
Generic drugs are favorite choice of the customers because of the best quality and the reasonable price. Generic drugs are also preferred by the doctor’s as they are approved by the major scientific organization in the world. Developing countries are also asking the people to use the generic drugs as they are saving the investment in the pharmaceutical sector. Insurance companies are also earning lots of profits because of the sales of generic drugs in the market. Thus, generic drugs are the best choice of medicines for all group of people.
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