What is generic drug market?
Generic drug market is a drug market produced after patent protection, and each manufacturer can legally produce a pharmaceutical product without having to apply for a license from the original developer. When drugs leave the patent, they usually enter generic drug market very quickly, because pharmaceutical companies want to use demand for them. Usually prices fall and, as a result, more patients are to approach the drug. With the results of the experiment, the company may apply for permission to sell the medicine. Because the development of drugs can be a lengthy process, drugs can only be protected under the patent for seven and 12 years at the time they reach an open market. When it expires, previously protected medicines enter generic drug market.
The immediate consequence of the general availability is a drop in price. Conventional companies can produce the drug at low cost and cheap it to the public. This forces the prices for naming the drugs kahung, because the original company wants to be able to compete. For pharmacies, the generic drug market can produce considerable profit margins because they buy drugs at low cost and can mark them significantly when they sell them to customers. Brand drugs tend to be so expensive that pharmacies cannot afford a tall brand, creating less profit.
generic drug prospects may vary from year to year. In the year when many drugs come from a patent, the market can experience a boom because drug companies are in a hurry to produce the drug. In years when less patents expire can be less active and can see a slower increase in profits. People can use up -to -date information on patent submissions to carry out projections on what the market will look like in 10 to 20 years.
When people buy drugs on the generic drug market, they receive medicines that should be pharmacologically identical to the brand. The active ingredient and dose are the same, although the drug can use different fillers and binders. To ensure that changes in neaCare components did not affect the performance of the drug, careful testing is necessary. People with allergic concerns should discuss them with a pharmacist because it is possible to experience a reaction to generics when the brand does not cause any problems, as a result of changes in the composition of inactive ingredients such as pill coatings.