Market Research Reveals Shocking Ignorance about Generic Drugs

A recent study has found that the states in US can save $300 million annually if the patients use generic versions of brand name drugs. Affordable Medicines Utilization Act (AMUA) of 2011, proposed by Republican Senators Scott Brown and John McCain and Democrat Ron Wyden, calls to save this unnecessary spending and allow the states to keep half of the savings. Ignorance of the patients about generic drugs is the main cause for under-use of generic drugs across USA. In many other countries, governments encourage the use of generic drugs to save money while allowing the patients the same medical benefits. The savings from use of generics can be so vast that it can reflect on the national economy and ease the pressure on the government to cut health plans and trim medical benefits. The new legislation brought about by the AMUA is timely when considering the unaffordable cost of most of the medicines on the shelves of US high street pharmacies.

The ignorance of average citizens about the generics is caused by the myths and misinformation spread by stakeholders like big pharmaceutical companies, some suppliers of medicines and the highly placed individuals supporting the big companies. Here are some of the general myths about generic drugs that the market research conducted recently by a top Canadian pharmacy giant revealed:

• Generic drugs are inferior to brand name drugs.


• Generic drugs contain alternative, active ingredients to the active ingredients in brand name equivalents.


• Generic drugs are cheaper because they come from developing countries.


• Generic drugs are cheap because there is no quality control.


• Generic drugs do not have the same effectiveness.


• Generic drugs are of low quality and produced without proper facilities and quality controls.

However, the truth about generic drugs is far different. Not knowing about the patent process and the generic drugs are the main reasons for many patients choosing to stick to brand name drugs alone, even when they can barely afford to complete a prescribed medication regime. The pharmaceutical companies engaged in research and development discover new substances to be used as medicines and carryout experiments and conduct clinical trials before applying for getting approvals for introducing the new drugs for treating patients. The companies that carry out research and discover the new medicines will have a patent right under intellectual property laws. The patent holding company manufactures the drug under its brand name, and no other company can manufacture and sell the new medicine until the patent period is over. During the period of patent protection, the brand name drug is sold with a very high mark up. It is not uncommon to add profit margins exceeding 1000%. Big pharmaceutical companies justify this practice citing Research and Development costs and the costs involved in introducing the new drug to the market and associated marketing activities. Within the period of patent protection, same drug cannot be manufactured by any other company. Hence generic equivalents are not available. However, after the patent protection period is over other companies reverse engineer the innovation drug and produce the same drug without incurring any research and development costs. Since the market is already developed, these companies also incur low marketing costs. These products are called the generic versions. Generic drug manufacturers supply the same drug with the same quality with approval from FDA. They have the same ingredients that are used in the brand name drug and are of the same quality. Some times, pharmaceutical companies making brand name drugs get the patent protection period extended by introducing combinations and different presentations.

In some countries, governments educate the citizens about these facts and encourage patients to use generic drugs. In Canada and Mexico, more people use generic drugs than in USA. The generic drugs cost a small fraction of the price of equivalent brand name drug. American citizens also can reap the cost benefits of using generic drugs when they come to the market after the expiry of patent protection periods. The prices of the generic drugs from Canadian online pharmacies are extremely low when compared to the prices at a regular pharmacy in USA. “Canada health policies prompt pharmaceutical companies to produce generics much earlier than the final expiration of patent period. This is why generics of innovative drugs come very early to Canadian market and bring huge social benefits to the citizens. Other countries should take a similar stance on the matter of generics with negotiations with drug companies” stated a spokes person for Big Mountain Drugs, a leading Canadian online pharmacy.

The spokesperson further explained that they add the generic drugs to their stocks as soon as they are released to the market by the generic manufacturers. Big Mountain Drugs has attractive discount coupon scheme and a loyalty reward program, enabling customers to make huge savings from their medication costs. Selling the branded and the generics side by side through their online pharmacy, online Canadian pharmacies often encourage those with low medical budgets to choose the generics without any hesitation of the quality.

Author

Big Mountain Pharmacies provides a wide portfolio of branded and generic prescription as well as OTC Drugs at affordable prices via its Online Canadian Pharmacy. Customers can now enjoy the benefits of high quality drugs and medications such as Xeloda 150 mg or other branded or generic products delivered worldwide.