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Did You Know Generic Medicines Less Expensive?

In today’s society, the cost of generic medications is significant. After extensive research and testing on both humans and animals, a company successfully develops a new medication.

In order to pay the costs of research and development, clinical trials, labor, marketing, and other expenses, non-generic medications are often priced higher. To determine the safety and efficacy of non-generic medications, extensive study and testing are required.

Pharmaceutical patents

Pharmaceutical businesses are typically entitled to a patent that gives them the only right to market their medication without opposition. Before a medicine undergoes clinical trials to evaluate its safety and effectiveness, the pharmaceutical industry submits a patent application. Other businesses will be able to produce and market the medication as a generic after the patent expires. Without the need for additional study and testing, generic medications can be produced, which lowers their cost significantly.

Demand

Life-saving prescription medications are not the same as other things. A person who is unwell and needs medicine in order to get better or survive will do whatever it takes to pay for the medicines. Additionally, not all non-generic brands might have comparable generic versions.

marketing and advertising

Even more than they do on development, testing, and research, companies invest a significant amount of money in marketing and advertising their products. As a result, non-generic medicines now cost more overall.

Conclusion:

Non-generic medications are typically expensive, and because to the aforementioned problems, costs have increased over the past ten years. Many families have trouble affording their medication. Particularly after the COVID-19 epidemic, non-generic medications have becoming progressively more pricey. Generic drugs are alternatives and a way to save medical costs, and healthcare is a requirement.

Alua Philimon

I'm Alua Philemon a Student of the Takoradi Technical University I offer Information Technology, many people know me as the TTU BLOGGER or ALUABLOG

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