Collect information about generic
medicines
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Generic Medicines are those medicines which are equal to their branded counterparts in dosage form, use, quality, effect, method of intake, composition, and active ingredients. They are required to look different from their branded counterparts, and may even taste a little different.
Generic Medicines are those medicines which are equal to their branded counterparts in dosage form, use, quality, effect, method of intake, composition, and active ingredients. They are required to look different from their branded counterparts, and may even taste a little different. Generic medicines are also marginally cheaper than their branded counterparts. Keeping this in mind, we must ask why haven’t generic medicines been extremely popular over the years and how are generic drug companies able to keep their selling prices so low and still make money. The answers to all such questions, including frequently asked questions have been discussed in this write up about generic medicines.
Generic medicines are mandated to be the exact copies of the original drug combination developed. The most important factor being that generic drugs have to be the exact same active ingredients, strength, form, method of administration, and results. As far as the inactive ingredients of the medicines are concerned, there can be minor variations, but only if these substitutes do not have a negative effect on the performance of the drug as well as on the patient.
Biosimilar drugs are “highly similar” to the original biologic product, this is because biosimilar products are generally derived from extremely complex, living ecosystems, thus, it is likely that they will be highly similar to the original biologic product. The quality standards set for biosimilars largely focuses on a set of parameters. It is also possible, that biosimilars can be developed to have additional features or properties.
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Answer:
A generic drug is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by chemical patents. Generic drugs are allowed for sale after the patents on the original drugs expire. Because the active chemical substance is the same, the medical profile of generics is believed to be equivalent in performance.[1][2] A generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in some characteristics such as the manufacturing process, formulation, excipients, color, taste, and packaging.
Although they may not be associated with a particular company, generic drugs are usually subject to government regulations in the countries in which they are dispensed. They are labeled with the name of the manufacturer and a generic non-proprietary name such as the United States Adopted Name (USAN) or International Non-proprietary Name (INN) of the drug. A generic drug must contain the same active ingredients as the original brand-name formulation. The U.S. Food and Drug Administration (FDA) requires generics to be identical to or within an acceptable bioequivalent range of their brand-name counterparts, with respect to pharmacokinetic and pharmacodynamic properties. (The FDA's use of the word "identical" is a legal interpretation, not literal.)
Biopharmaceuticals, such as monoclonal antibodies, differ biologically from small molecule drugs. Biosimilars have active pharmaceutical ingredients that are almost identical to the original product and are typically regulated under an extended set of rules, but they are not the same as generic drugs as the active ingredients are not the same as those of their reference products.
In most cases, generic products become available after the patent protections afforded to the drug's original developer expire. Once generic drugs enter the market, competition often leads to substantially lower prices for both the original brand-name product and its generic equivalents. In most countries, patents give 20 years of protection. However, many countries and regions, such as the European Union and the United States,[5] may grant up to five years of additional protection ("patent term restoration") if manufacturers meet specific goals, such as conducting clinical trials for pediatric patients.
Manufacturers, wholesalers, insurers, and drugstores can all increase prices at various stages of production and distribution.