07/01/2023
*What is Generic Medicine?*
• Generic medicine means name of the molecule / contents of the medicine and not the name of the brand.
• For eg. Crocin, Asprin, Disprin are the names of the brands. The molecule of the medicine is Paracetamol.
*What is the difference in the rate of the Generic medicine and branded medicine and Why?*
• Generic medicines are 30 % to 80% cheaper than the branded medicine because the company spends a huge cost for research and development of new medicines. Therefore, the companies get the medicines patented. After the period of Patent is expired, the company’s exclusive right over the medicine ends and other companies can manufacture the medicine. Therefore, the medicine can be made available at lower cost.
• For eg. Diclofenac 100 mg (Tab) Branded price is Rs. 37/-
Generic medicine price is Rs 12/-
• The Contents and effect of both the medicine are same.
