Based on its therapeutics applications, the generic drugs market can be classified into cardiovascular products, anti-infective drugs, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others.
Brand names are usually capitalized while generic names are not. The FDA also recognizes drugs that use the same ingredients with different bioavailability, and divides them into therapeutic equivalence groups.
Different inactive ingredients means that the generic may look different to the originator brand. Pharmaceutical industry in India The Indian government began encouraging more drug manufacturing by Indian companies in the early s, and with the Patents Act in When a company brings a new drug onto the market, the firm has already spent substantial money on research, development, marketing and promotion of the drug.
As the patent nears expiration, manufacturers can apply to the FDA for permission to make and sell generic versions of the drug; and without the startup costs for development of the drug, other companies can afford to make and sell it more cheaply.
This puts the generic company at risk of being sued for patent infringement, since the act of filing the ANDA is considered "constructive infringement" of the Analysis of generic and branded drugs.
Major geographies analyzed under this research report are: A typical price decay graph will show a "scalloped" curve,  which usually starts at the brand-name price on the day of generic launch and then falls as competition intensifies.
The generic drugs market can be segmented into biosimilars, simple generic, and super generic. An example of a generic drugone used for diabetesis metformin.
For example, warfarin Coumadin has a narrow therapeutic window and requires frequent blood tests to make sure patients do not have a subtherapeutic or a toxic level.
Overview of the Global Generic Drugs Market The cost-effectiveness of generic drugs has given it a competitive advantage over branded drugs in the market.
Hence, this cuts down the commercial life of patented drugs to approximately 15 years. Drug nomenclature Generic drug names are constructed using standardized affixes that distinguish drugs between and within classes and suggest their action. This has emerged as a key growth driver for the generic drugs market.
Some of these settlement agreements have been struck down by courts when they took the form of reverse payment patent settlement agreements, in which the generic company basically accepts a payment to drop the litigation, delaying the introduction of the generic product and frustrating the purpose of the Hatch-Waxman Act.
When multiple companies begin producing and selling a drug, the competition among them can also drive the price down even further.
A study performed in Ontario showed that replacing Coumadin with generic warfarin was safe,  but many physicians are not comfortable with their patients taking branded generic equivalents.
Economics[ edit ] When a pharmaceutical company first markets a drug, it is usually under a patent that, until it expires, the company can use to exclude competitors by suing them for patent infringement.
A brand name for metformin is Glucophage. The market report provides a holistic blueprint of the global generic drugs market. For example, Thailand has imported millions of doses of a generic version of the blood-thinning drug Plavix used to help prevent heart attacks from India, the leading manufacturer of generic drugs, at a cost of 3 US cents per dose.
Food and Drug Administration requires that generic drugs be as safe and effective as brand-name drugs.
The average difference in absorption between the generic and the brand-name drug was 3. Many drugs introduced by generic manufacturers have already been on the market for a decade or more and may already be well known to patients and providers, although often under their branded name.
As competition from generic counterparts poses a significant threat to the branded drug industry, innovator companies have adopted more vigorous defense strategies than ever to guard their market share and profits.
Companies in the industry have responded with consolidation or turning to try to generate new drugs. Generic drugs are governed by the same governing framework as branded drugs. Some license holders withdraw from the market when the selling price dips below their cost of goods, and the price then rises for a while until the license holders re-enter the market with new stock.
Generics sold under license from the patent holder are known as authorized generics. This, however, has not deterred leading players in generic drugs market from marching ahead with their market expansion plans.
These products cannot be entirely identical because of batch-to-batch variability and their biological nature, and they are subject to extra rules.
After patent expiry, manufacturers of branded drugs have to face fierce competition from cheap generic contemporaries. Know The Warning Signs Many people become concerned because generic drugs are often substantially cheaper than the brand-name versions.
A patent is granted that gives the company that developed the drug an exclusive right to sell the drug as long as the patent is in effect.
Actually, generic drugs are only cheaper because the manufacturers have not had the expenses of developing and marketing a new drug. In other words, their pharmacological effects are exactly the same as those of their brand-name counterparts.
The market is evaluated in terms of distinct product segments, retail distribution channels, supply chain networks, and consumer groups to offer focused and strategic recommendations for businesses.
Furthermore, the participants in the industry supply chain network such as wholesalers, retailers, pharmacies, and benefit managers also benefit from the sale of generic drugs, since it significantly increases their profit margin.
Insightful data and statistics present in the report enhance the understanding of stakeholders about the incumbent market dynamics and how the same is likely to impact their future course of action. Generic drugs are medications that have the same chemical composition and possess similar performance characteristic to its branded variants.
Another common misbelief is that generic drugs take longer to work.Figure 4: Analysis of cost of single dose of Inj ceftriaxone 1gm Branded (Brand A-E) vs Generic (Brand G).
Bhosle et al; Comparison of Generic and Branded Drugs Annals of International Medical and Dental Research, Vol (3), Issue (1) Page 4. Generic drugs are copies of brand-name drugs that have exactly the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug.
In other words, their pharmacological effects are exactly the same as those of their brand-name counterparts.
Generic drugs typically cost 30% to 60% less than their brand-name counterparts, 3 and widespread use of generics has the potential to reduce the price of other brand-name drugs by. A series of scandals around the approval of generic drugs in the late s shook public confidence in generic drugs; there were several instances in which companies obtained bioequivalence data fraudulently, by using the branded drug in their tests instead of their own product, and a congressional investigation found corruption at the FDA, where employees were accepting bribes to approve some.
Nov 28, · As additional generic manufacturers market the product, the prices continue to fall, but more slowly. For products that attract a large number of generic manufacturers, the average generic price falls to 20% of the branded price and lower.
A generic drug is said to be a bioequivalent of the branded drug and does not have a patent by it self and is manufactured and marketed only after the expiration of the branded drugs patent.
Brand name drugs are well known and trusted but are expensive.Download