What Are Generic Pharmaceuticals?
Generic drugs are copies of brand name drugs. Generic pharmaceuticals contain
the same active ingredients as their brand name counterparts.
When a new drug is developed, it is given a name that indicates its chemical
make-up. This is called its ‘generic’ or ‘chemical’
name. This is where the terms ‘generic drugs’ and ‘generic
pharmaceuticals’ originate.
The new drug is also given a brand name for marketing purposes, which is usually
easier to say and remember. Patients and doctors come to know the new drug by
this brand name and initially prescriptions are also written using the brand
name.
After the patent on a brand name drug has expired, generic drugs are allowed
to be manufactured and sold. Generic pharmaceuticals are essentially copy products
and are considered therapeutically equivalent to original brand products. Because
they contain the same active ingredients, equivalent brand name and generic
drugs have the same chemical names.
Why Are Generic Drugs Cheaper?
Generic pharmaceuticals are usually less expensive than their brand name counterparts.
This is because generic drugs are essentially ‘copies’ of the original
brand name product and there is therefore no investment required in discovering
them and significantly less investment required in developing them.
Generic drugs have been reported to save U.S. consumers an estimated $US 8-10
billion a year (1). In 2000, generic pharmaceuticals accounted for 42% of all
drugs sold in the U.S., and yet this represented only 8% of total dollar value
of pharmaceutical sales (1). In the same year, the average price of generic
drugs was $19.33 while the average price of a brand name prescription was $65.29
(2).
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Safety & Quality of Generic Pharmaceuticals
The approval process for generic drugs is rigorous in all countries Value Pharmaceuticals
suppliers source their products from. A company that manufactures generic drugs
needs to prove that they are as effective and safe as their brand name counterparts.
The company must show that their generic pharmaceuticals have the same effect
in the body and are manufactured to the same high standards before they can
be registered and therefore sold to patients.
Value Pharmaceuticals pharmacies source high quality generic products only
from pharmaceutical manufacturers that comply with strict international manufacturing
standards. This means that any generic product supplied to a Value Pharmaceuticals
customer has complied with robust internationally accepted quality standards.
The safety and quality of all generic pharmaceuticals available on this site
are without question.
Most of the generic products available from Value Pharmaceuticals are sourced
from western European countries. Some of the generic products are sourced from
internationally approved pharmaceutical manufacturers from India and these are
identified during the ordering process.
The key companies that our suppliers source Indian generic pharmaceuticals from
are:
The links provided will take you to the respective company websites which have
information to show that their manufacturing facilities have been inspected
to meet the robust standards of the FDA as well as other internationally recognised
regulatory authorities.
To view our Product Catalogue, including the selection of generic drugs we
offer, please click here.
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Switching to Generics Drugs
Are you thinking of switching to use generic pharmaceuticals? Health authorities
recommend that patients contact their doctor before switching to generic drugs.
Many brand name drugs have equivalent generic drugs available. In the U.S.,
almost half of all prescriptions filled in 2002 were for generic pharmaceuticals.
Over the next two years it is expected that more than two thirds of all prescriptions
will be filled with generic drugs (3). These generic pharmaceuticals will not
only be supplied on generic prescriptions. This is because in the U.S. most
states allow pharmacists to substitute generic drugs on prescriptions with the
doctor’s approval even though a brand name product may have initially
been prescribed.
If after seeking your doctor’s approval you decide to purchase generic
drugs through Value Pharmaceuticals, you can expect to receive the same clinical
effect as with their brand name counterparts, but for a considerably reduced
cost!
However, there are a small number of brand name drugs with which great care
should be taken when substituting generic pharmaceuticals. These are drugs that
have what is termed a ‘narrow therapeutic index’. This means that for these
drugs a small variation in dose can cause problems, such as too little effectiveness
or too many side effects. In these few cases, a patient should only switch after
consulting with their doctor and then do so only with his or her approval and
close supervision. To view a list of drugs with a narrow therapeutic index,
click here.
To view our Product Catalogue, including the selection of generic drugs we
offer, please click here.
References:
1. FDA Centre for Drug Evaluation and Research, “What are Generic Drugs”,
Updated 2003
2. D & MD Publications, Report #9043 (Executive Summary), 2002
3. Milt Freudenheim, The International Herald Tribune, "U.S. Facing Generic
Drug Price
Climb", 28 December 2002