"Generic Drugs". Favors the economic stimulation of the market and also the research of new drugs.

January 3, 2014

 

There is a lot of information regarding the production and distribution of generic drugs all around the world.

 

So undoubtedly, result pretty easy to get confused in front of the speech posed by large pharmaceutical multinational versus the scientific opinion of the experts.

 

About the experts opinion one of the first thing you have to have in consideration is: "Generic Drugs" do have the same efficacy, quality, and security controls, even the same active principle and actually the same doses of the other drugs, with the same medical effects. Actually we can describe it as a copy of a brand name product, knows as the reference product.

 

They contain the same medicinal ingredients as the brand name drug and are considered bio equivalent to the reference product. Also in the market you can find many generic versions of the same reference product.

Something really interesting about it, and you probably ignore is: they are not only produced to heal minor illnesses, they are also created for specialized uses in areas as oncology and transplants.

 

Something worth mentioning is the "Generic Drug" long term benefit the national production of drugs and the consumer as well.

Also favors the economic stimulation of the market and the research of new drugs.

 

Their prices significantly lower, forcing brands to cut prices by 15% to 40% average of the retail price.

 

Both of them have quality control by the Health Authority of the country involved.

 

In Canada nearly 45% of all prescriptions filled by pharmacies use generic drugs, and some hospitals use generic drugs almost exclusively.

 

IMS Health also reports that the average cost of a brand - name prescription in Canada is $73.76 dollars, while the average cost of the generic prescription is just $25.04 dollars.

 

The average price of a brand - name prescription increased by 40 per cent over the past 10 years, while the average cost of a generic prescription grew just by a 21 per cent. Its estimated that, for every 1 per cent increase in generic drug utilization in Canada, Canadians save an additional $260 million.

 

Health Canada is responsible for evaluating generic drugs for their safety, effectiveness and quality.

 

The process for evaluating drugs products is constantly being improved and updated to keep up with international standards of regulatory approval.

 

So after you read this information.

 

Which drug are you going to choose for your next drug prescription?

 

 

References Muy Interesante Magazine - SpainHealth Canada - www.hc-sc.gc.caIts generic drugs or nothing - National PostGeneric Drugs use must be a priority - The Globe and Mail.

 

 

 

 

 

 

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