Generic drugs are popular than the branded drugs, according to the report submitted by world pharmacist association. You need not be the surprised by this fact because generic drugs are reasonably cheaper than the original branded drugs and are equally effective like the original branded drugs. Generic drugs are approved by US Food and Drug Administration. Generic drugs are now available all over the world with the cheapest price and really are capturing the medicine market very fast. The popularity of the generic drugs is increasing day by day because of the preference of the pharmacists as well as the customers. Generic Drugs are crossing all the sales records in the market because of their low prices.
Generic drugs are identical or bioequivalent to the brand name counterpart with respect pharmacokinetic and pharmacodynamic properties. Generic drugs are easily available in the market and they even do not require the prescription depending on the rules in the country in which you are buying them. Insurance companies are forcing doctors to prescribe generic drugs because of the profits they are making with generic drugs business is more in comparison to the branded drugs. Insurance companies said that they are following legitimate medical protocol which explains that the step therapy procedure should be followed by the doctor. Step therapy is a procedure in which doctors should first prescribe the generic drugs and if these drugs fail to produce the required effect then they should prescribe the more expensive brand-name drugs.
Generic drug industry has now capture 65% medicine market in United States. According to some doctors who practice Internal Medicine in United States, generic drugs produce the same effect when compared to the brand name drugs. Doctors also mention that because of the low prices of generic drugs even the patients are happy to buy the generic drugs. Even some patients are now asking the doctors if they know the generic version of the branded drug, then please prescribe the generic drug. Generic drug contains the same ingredient as the original drug. Generic drugs are similar in strength when compared with the original brand-name drug. Thus, the popularity of the generic drug is increasing.
Companies producing generic drugs have to no longer spend the money on the drug discovery. Generic drug companies have to follow the same procedure for the manufacturing of the drug and to take in consideration that the generic drug also produces similar effects. Generic drug companies receive the benefit of the marketing and advertising effects put by the brand-name drug companies. Thus, generic drug saves the lots of money of the generic drug manufacturing companies. Hence more and more companies are entering the generic drug market. As a result of the competition, the quality of the generic drug is improved and the price of the generic drug is decreasing.
Generic drugs are making the double profits and saving the lots of money of the manufacturer that leads the manufacturer to earn a lot of profits, and is able to still maintain the low costs of the drug. The rise in the sale of generic was observed to be really good by all the chemists in the world. Many online pharmacies are also selling the generic drugs. So, you can even buy the generic drugs from the online pharmacies. You need to confirm that whether the online pharmacy is genuine or not. About 45% sales of the generic drugs is done through the online pharmacies. Hence it makes clear that customers prefer generic drugs than the expensive branded drugs. This gives us the clear idea that generic drugs are more popular than the brand name drugs