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Friday, August 27, 2021

What is the difference between generic and branded medicine? Know why generics are so cheap

Medicines have now become an important part of every family. 
In most of the families, one person takes medicines daily, which is a separate cost for them. In this wide market of medicines, now there is a concern about generic medicines as well. There is also a lot of discussion about branded medicines and generic medicines. Different arguments of people come out on these, in which some are seen supporting generic medicines and some share things against it.

In the midst of this debate, today we tell you what is the difference between branded and generic medicines? Also, you will know why generic medicines are so cheap…

What are branded and generic medicines?

Simply explain to you that there are two types of medicines available in the market. Before telling the difference between these two, let us tell you how medicines are made. Actually, there is a formula, in which the medicine is made by mixing different chemicals. Like the substance used to cure any pain, medicine is made from that substance. When this medicine is made by a big drug company then it becomes a branded medicine. By the way, it is only the name of the company, whereas it is made from other substances, which you can see above the name of the company on the wrapper of the medicine.

At the same time, when a small company makes medicines by mixing the same substances, then it is called generic medicines in the market. There is no difference between these two medicines, only the name and brand difference. For example, suppose you are buying some goods from a small company, but the formula for making the medicine is the same, so there is no difference in the quality of the medicine. Also, it starts making after the patent of branded companies expires.

Aarushi Jain, Executive Director, Stayhappy Pharmacy, says, “The medicines are made from salts and molecules. Therefore, while buying medicines, attention should always be paid to its salt and not to any company in whose name the medicine is being sold. Also Aarushi said, 'Generic medicines are those, which are sold under the generic name. The only major difference between generic and branded drugs is the marketing strategies used to build an image and drive sales. Over the years, the drug industry, drug makers have built an image of branded drugs as a better alternative to generic drugs.

Why are generic medicines cheaper?

The reason for the cheapness of generic medicines is that they are not of any big brand, due to which not much money is spent on marketing of these medicines etc. Also, there is a substantial cost on research, development, marketing, promotion and branding. However, generic drugs are first developed by developers using their formulas and salts after the patent expires. Along with this, direct manufacturing is done, because its trials etc. have already been done. In this, companies have a formula and medicines are made from these formulas.

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