The business of drugs
For a pharmaceutical company, the process of bringing a new drug to the market is a matter of immense risk. A lot of resources are spent indoing so. Before a medicine is available in the market, a company has to go through the rigorous procedure of research, development, marketing, and promotion of the drug in question. All of this has a substantial cost associated with it. But before the drug is actually sold, the pharmaceutical company that developed the drug is granted a patent. Obtaining a patent allows the company to manufacture and sell the drug exclusively, without any competition. It provides a license of monopoly and the legal right to exclude any other company from benefitting off their invention.Patents, however, are set for a limited period and are no longer applicable after their expiry.
The logic of generic
So what happens once a company loses patent over a drug?No, they don’t go out of supply. A lot of these drugs are considered milestones in medical history. Illnesses like Malaria, Polio, Small Pox, etc. were previously considered incurableand are now treated easily.This is due to the development of certain drugs that are now regarded as huge medical breakthroughs.They have immense utility and must remain in circulation.
Once the patented drug expires, companies lose their monopoly over it. Other companies can now manufacture similar drugs freely. However, this will result in an unending cycle of drug patents. To avoid this, a company can seek permission from the FDA before their patent expires to make and sell their drug as a generic version.
A generic drug has the same chemical composition as the original drug under patent did. These drugs are typically sold after the expiration of a company’s patent over a drug. These drugs have the same performance with slight changes in other characteristics likecolor, taste, packing, etc.
Smart drugs are in
Nootropics or smart drugs are the latest in the line of lifestyle medicine. These stimulants have seen a rise in use all over the world. These drugs, supplements or other substances are consumed as enhancers that are believed to improve cognitive processes. Although controversial, these drugs are being experimented with and tested for their actual benefit. Smart drugs are used for non-medical purposes, like enhancing memory or concentration.
Generic is the way to go
The hype around generic medicine is not only justified but is also the need of the hour. The logic behind the benefit of generic medicineis simple economics. Once a company loses the patent, they are no longer required to single-handedly carry the cost of manufacturing and marketing the drug. This brings down the selling price of the drug significantly. Moreover, with the rise of competition, the price of the drug is further reduced.
Often times, government bodies step in to regulate the manufacturing of these drugs. This ensures that the quality and effectiveness of the drug does not start slacking. The government also further subsidizes these drugs to make them available to marginalized and economically backward communities.
Drugs like ‘Metformin’, which are prescribed to diabetic patients, were previously patented under the brand name ‘Glucophage’. Another drug used for hypertension, ‘Metoprolol’ is a version of a brand name drug ‘Lopressor’.
Misconceptions regarding generic drugs are often baseless. The belief that generic drugs are lower in quality and hence cheaper is completely untrue. Also, if a generic drug looks different from the original drug then that does not mean the drug is changed or will not work. And not every brand name drug will have a generic version, because patents can last very long and new medicine might be available before the patent expires. The best way to get your generic medicines like Modalertis to order them from rxshopmd.com.