Generic Medicine

Why are generic medicines inexpensive?

  • April 25, 2023
  • 2 mins read

There is an agency named the FDA, which approved generic medicines only after a rigorous review and after a set of times that the branded medication has been on the market exclusively. This is because the new medicinal products, like other new medicinal products, are specifically covered by patents that help prevent others from creating and selling copies of the same medicinal products.

Generic medicines generally cost less than their branded alternatives because the respective applicants of generic medicinal products do not have to repeat animal studies and clinical/human studies that were needed of the branded medicines to check safety and effectiveness. This abbreviated pathway is why the application filled for a new medicine is known as the abbreviated new drug application.

The reduction in upfront research value means that, although generic medicines have the therapeutic effect as their existing branded alternatives, they are commonly sold at substantial concession, around 80% to 85% less, in comparison to the price of branded medicine.

When multiple generic companies are approved to market a single medicinal product, more competition occurs in the marketplace, which basically causes a reduction in the medication price. Establishing more competition in the pharmaceutical market and inscribing the high cost of medicinal products is one of the top priorities of the FDA.

Where I Can Find More Deets About Generic Medicines:

Contact your health specialist, pharmacist, or other healthcare providers for deets on generic medicine supplier from India, medication availability, and sourcing. For more information, you can also contact a trusted name, IKRIS Pharma Network (IPN) either via TOLL-FREE: 1800-889-1064 or Call/WhatsApp: +91 8130290915.

IKRIS is one of the leading suppliers of generic and branded medications from India. We are certified by GDP. This certification helps demonstrate our involvement and commitment to quality. We request you to kindly get in touch with us to know more about our generic medicine exports from India. We are the most reliable and trustworthy generic medicine exporter from India, and keen to answer all your queries.