Some advantages of Generic Medicines
You might be wondering what these generic drugs are, as many a time we all have heard Generic Viagra, Generic Cialis and Generic Levitra. The question is why one should go for these generic medicines when in the market branded drugs are easily available. Before going into more details, let me inform you that these generic drugs are equivalent to the branded one and they too contain the same composition of branded one. Some of the advantages of generic drugs are:
-They are cheaper compared to branded one with same effectiveness.
-These drugs do not require prescription; it can be purchased directly from online stores. Also, many online stores mention in their website the dos and donts about the medicine, which will help customers choose a generic medicine.
The main advantage of generic drug over branded one is the price. According to the estimates, customers are saving nearly 10 billion dollar yearly simply by using generic medicine. If a branded medicine is available for USD 50, then the equivalent generic drug is available for just USD 15, so annual savings comes to USD 420 (if generic drugs are used).
Now the question is, why these generic version is this much cheaper compared to the branded one, the answer is - the companies that are involved in making generic drugs incur less overhead cost compared to the company that has created it by spending years in research and spending millions of dollars. The original creators has many other expenses also, once they make the drug, they have to perform clinical trials to make sure that this drug is safe and will give the desired results without any complications, again this is a costly affair. Once all these trials are conducted and satisfactory results are achieved, FDA will approve these drugs, so because of all these reasons the original manufacturer has to sell it at higher price in order to make profit.
So now, it is clear that how the manufactures of generic drugs sell it at cheap rates. They are able to sell at cheap rates just because they are spending only on manufacturing of the medicine.
Also, one other important factor which is in favor of generic drug manufacturers are, they do not need to spend even on advertising, as the same is done by the original manufacture and the users are well-aware about the drugs, they just have to sell it.