Branded Generics Can Be Equally Effective As Original Drugs for Treating Chronic Ailments and Various Other Diseases

 

While generics cost less than brand-name products, they are manufactured by the same company, which increases competition. As they are made by the same company, however, the branded generics sell for more money during their 180-day exclusivity period. This also benefits brand-name firms, which receive additional revenues from sales made through partnerships with generic manufacturers. These additional revenues are then used to support pharmaceutical innovation. So, despite the fact that branded generics are often less expensive, it's worth the risk.

While both types of Branded Generics are effective for the treatment of chronic ailments, brand-name drugs are generally more expensive. They are often formulated with different active ingredients. The differences between brand-name and generic drugs may lead to adverse reactions in the patient. Drug manufacturers are also required to list the inactive ingredients used in their medications. While a brand-name drug is more expensive than a generic version, they are still cheaper than the generic versions.

Many prestigious brand-name pharmaceutical companies once looked askance at their cheap generic competitors. Now, some of these firms are major purveyors of generic drugs. Some, like Sanofi-Aventis and GlaxoSmithKline, are taking advantage of the cheap price of generic drugs to diversify their business in developing markets. In addition, some of these companies have begun selling mid-priced branded generic lines of prescription and over-the-counter medicines.

While there are several reasons why doctors are hesitant to prescribe generics, one major concern is the lack of confidence in generic medicines. Some have voiced doubts over the safety and efficacy of generic medicines because of a lack of Good Manufacturing Practices. In a recent case, an Indian pharmaceutical company violated Good Manufacturing Practices standards, causing the European Medicines Agency to recall generic clopidogrel. Moreover, a generic medicine should be bioequivalent to its innovator drug.

There are also many benefits to authorized generics. Authorized generics are produced by the same pharmaceutical company that produces brand-name drugs. Since their price is lower than that of their generic counterparts, they offer greater competition. In December 2020, Sawai introduced Japan’s first generic version of Pfizer’s Lyrica pregabalin brand with other Japanese generic firms waiting in the wings.