Generic manufacturers don’t deal with the similar costs as producers of brand-name medicines. That’s simply because the brand-name manufacturer frequently invented the drug, a procedure that will cost hundreds of millions of dollars. This really is the main reason behind drug patents : Providing pharmaceutical companies a period of years when simply they are able to make money on a product in which they have made a big investment. That investment additionally involves advertising : those TV commercials as well as billboards at bus stops.
For a generic maker, absolutely no such investment is needed — not in development and not in advertising. The drug’s formula is thought, the clinical tests are complete ; the generic maker’s exclusively requirement is to show regulators that its version is really as good and also effective in humans as the original.
That is definitely a huge economic edge when dealing with these companies, which explains why their medicines are a lot cheaper.
The utmost disadvantage for these drug makers could be their insufficient an marketing funds. You usually don’t notice ads for generics. It is possibly this not enough publicity and gloss that make generics “less cool” to patients, according to assistant professor of medicine at Harvard Medical School, William Shrank. “It is hard to sell something that’s ‘as good but less expensive.’ It does not have the same sexiness.”
Facts about Generic Drugs by FDA.
