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Generic Medicine: A Few Critical Issues

It is only natural for generic medicine to take over the pharmaceutical market with a substantial share of the market once the patents of high volume products expire and that the prevalence of cheap generics will boost the financial possibilities to launch new products. You can safely predict that when this happens, the avoidable switches between different brands get automatically restrained with new price regulations, which pleasantly calls for higher deliverance from the enterprises.

At the base, a
generic medicine will comprise the exact same formula as its brand counterpart and the same holds good for both side effects as well as healing. Bioequivalence of generic medicine products are to be proven through clinical trials purely to establish the fact that they will execute with same therapeutic efficacy or the other way round as the branded medicines. So you can rest assured as far as safety of a generic medicine is concerned. Further more, generic drugs are licensed through the same legal establishments as the rest of pharmaceutical products where they face the equally strict demands as that of branded products.

Producers of
generic medicines invest considerably less in new drug development and promotion, which is what makes them able to sell at far lower prices. "On their part, producers of generic drugs are gearing up to ensure that at least one alternative generic medicine is available to patients for each branded product when they go off patent. The idea driving this is simple: the brand premium of generic medicines is significantly lower or negligible vis-à-vis patented medicines, which makes the generic medicine (like Sildenafil Citrate) cheaper by miles. Globally, governments are stressing to preserve the gains made in the field of generic medicine, just in case an epidemic were to break out. Even the Doha round has declared, "Health overrules all accords”.

Across the globe, many governments are taking steps to reduce their healthcare spending specific to procurement of medicines for their distribution by a third. Within the United States of America, it is still not clear whether this kind of a move will affect insurance premiums and reimbursements, however, for the moment, the Center for Medicare Services is yet to announce the reimbursement structure for generic medicine consumption.

There still exists a general misconception that generic medicine products are counterfeits but the fact appears to be different. Generics contain the same active ingredients but different inactive ingredients (excipients) sometimes (Vardenafil). The market statistics should provide an eye opener of sorts: generic products represent 56% of all the prescriptions dispensed in America, but still account for only 13% of the entire expenses on prescription drugs.

Generic medicine is not only profitable for buyers but also for manufacturers. In a few significant cases, producers of generic products are also the owners of branded medicines, so the question of quality of
generic medicine manufactured and sold by them reduces to redundancy. If there is something, the only serious distinction, as far as I can think, lies in the price. Generic medicine is here to stay and grow.