Are generic drugs less effective in India?

Parallely, India’s pharmaceutical market is worth almost Rs 1 lakh crore, of which 90\% is owned by branded products. Generic drugs are typically 30-80\% cheaper than the original versions. The advocates of generic drugs have claimed that they are as effective as their branded counterparts.

Why should medicines be prescribed using generic names rather than brand names?

Prescribing medicines by generic rather than brand name can improve cost-effectiveness and is encouraged. However, there are some circumstances in which continuity of the same product is important for patient safety and prescribing a specific manufacturer’s product (brand or generic) is preferred.

Does my doctor get money from drug companies?

Each year, about half of all U.S. doctors accept money or gifts from drug and device companies, totaling more than $2 billion. These payments range from free meals during which doctors listen to drug reps pitch their latest products, to travel to luxury locales to serve as paid “consultants.”

What is the future of generic medicine in India?

According to a 2016 study, the global generics market is expected to experience a 10.53 percent compounded annual growth rate (CAGR) from 2016-2020, with the value of drugs coming off expired patents equaling $150 billion by 2020. IMS Health found that more than 90 percent of dispensed medicine will be generic by 2020.

Are Indian generics safe?

These concerns raise fears among patients that taking drugs made in India may result in unpredictable effects. Fortunately, the reality is that the generic medicines manufactured in India are as safe and efficacious as those made in the United States.

What is the difference between generic and branded medicine in India?

The main difference between Generic and Branded medicines is cost. Generic medicine manufacturers cost much less than branded medicines since they do not incur development costs, just production and marketing cost. Thus, generic medicines are cheaper than branded medicines.

When prescribing the generic name should always be used?

Generic prescribing Doctors are encouraged to prescribe by using the generic name. This is because: The generic name is the one doctors are trained to use. There are sometimes many brand (trade) names for one medicine.

Who manufactures generic drugs in India?

India is a leading country in the world’s generic drugs market, with Sun Pharmaceuticals being the largest pharmaceutical company in India. Indian generics companies exported US$17.3 billion worth of drugs in the 2017–18 (April–March) year.

What is the market size of generic drugs in India?

In India, 90\% of branded generics share in the ~1-lakh-crore market. 4 India is the largest provider of generic drugs by exporting in more than 200 countries with the 20 per cent of global exports of generics in terms of volume. With flourish of generic market, now battle for better drugs is going on in India. 5

What is the difference between generic medicine and branded medicine?

As the cost of development is not involved Generic medicine is much cheaper than the branded one. In India, 90\% of branded generics share in the ~1-lakh-crore market. 4 India is the largest provider of generic drugs by exporting in more than 200 countries with the 20 per cent of global exports of generics in terms of volume.

How to get FDA approval for brand name medicine?

Brand name medicine is approved by FDA by submitting a New Drug Application along with data regarding proof of characteristics of dosage form, manufacturing, chemistry, stability, efficacy, safety, labeling and packaging.