What makes GENERIC DRUGS cheaper?

why do Generic Drugs are cheaper than Brand name Medications?


Comments


[3 Points] VolkovAlex:

The main reason that generic drugs cost less is because the manufacturers have much lower costs than the makers of brand-name drugs. This is because brand-name manufacturers often invent the drug, which can cost millions upon millions of dollars when you consider the research, resources and marketing that go into creating a product. I can recommend http://noprescription-rx.com. Had business with them for over a year and never had any major problems. They can be slow at sending the order, but it always get there, and their customer service is great, always someone to talk to if their is a issue. Will do business with them again..


[2 Points] Hayk_Vosgi:

1) Pharma company puts twenty wheelbarrows of money into R&D. 2) Pharma company asks for a drug for hypertension, gets: - an effective hypertension drug that kills 25% of rats it's administered to - a not very effective hypertension drug that does, however, give you a boner - a drug that makes rats behave really weird and it could probably used to treat something, but nobody's sure what 3) Pharma company patents what it can, announces this to it's investors

Basically, generic drugs can skip the R&D and instead innovate how to do the same thing cheaper.


[1 Points] sobulbous:

Brand name drugs have patents granting the company exclusive rights to that drug for a certain period of time. They did all the R&D, marketing, advertising, etc like the others have said.

When the patent expires, the drug becomes available for production by other manufacturers. Competition creates lower prices.


[1 Points] throwahooawayyfoe:

lack of quality control is basically what it comes down to. all the brand-name companies guarantee their products and have millions of dollars in liability coverage that will pay for your medical bills if you indeed have a legitimate claim against them. the generic manufacturers, however, often times don't offer any sort of a guarantee on their product and they don't carry anywhere near as much insurance. plus, the court battle to get them to pay anything will be long and could end up being more expensive than it's worth.

the cost of development also comes into play for brand names. a pharmaceutical company will spend sometimes billions of dollars of research developing a drug. and as soon as that medication comes off-patent, the generic companies swoop in and learn how to make it from the recipe that already exists thanks to the brand-name manufacturer.


[1 Points] geekvape:

What makes generic Cola cheaper? What makes generic clothes cheaper? What makes generic electronics cheaper?

Branding, research, medical/human trials, liability insurance and marketing cost money, this ends up in the product price. In the case of RX drugs, there's generally even less variation in products, as they're heavily legally regulated and therefore contain the same amount of drugs at good purity, although foreign made ones might not.