Why are generic drugs cheaper? | By Ishan [Hindi]
For developing a formula of a branded drug it requires lots of investments for research and development. In order to get that investments back they will charge more within that patent time, once the patent time is over any one can produce that medicine with same formula. So the cost of that medicine includes all costs incurred to develop the drug and benefits of the manufacturer.
When it comes to Generic drug all that R&D costs will not be there so the generic drugs are cheaper.
In India very few people are aware of this generic medicines, because of which people are spending more money on their medicines. That’s why recently Indian Government and The Medical Council of India (MCI) has mandated that generic names of drugs would have to be mentioned along with the brands in prescriptions to patients
because there are so many medicines which are available in generics. Indian government is also encouraging the use of generic medicines by establishing some Jan Aushadhi Medical Stores in India and nowadays large number of retail generic outlets are appearing in the market and also there are some players who are selling generic medicines online like genericwala. I have switched over to buying generic medicines rather than the branded medicines and i usually order it online because it is cheaper and convenient for me.
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