Approximately, it may take up to 27 years, at most, and 20, at least! A generic drug can only be manufactured if a patent has expired. It takes 20 years for a patent to expire. Further, the patent-holding company may take longer before declaring that there's no infringement on its patent.I understand that the process of the company wanting to regain their money on the research and expenses. But when you have to pay for a brand name and the copay is outrageous too with insurance each month, you hope the generic comes out faster than later.
Basically, generic drugs are copies of brand-name drugs that have exactly the same dosage or intended use, some likely side effects, route of administering the drug and risks involved in excess consumption, safety, and strength as the original drug. In other words, their pharmacological effects are exactly the same as those of their brand-name counterparts and I don't think there is basically any specified period of time that it has to take before a generic version of it can be made.
It depends on the duration of the patent rights that the government gave. I have always looked at that sole right as an opportunity for the pharmaceutical company to make enough profit selling such brand drugs. This is one of the best ways to encourage innovation in the health sector.
Thanks for such an informative answerPharmaceutical companies will patent any molecule that shows promise early in the development process. Patenting prevents other companies from copying it for 20 years and covers many aspects of the intellectual property of a drug, including its manufacture, formulation and, in some cases, its use.
The purpose of a patent is to enable the pharmaceutical company that developed it to recoup their development costs and to make a profit to cover the development costs of drugs that failed during the testing process, as well as to invest in the development of future innovative drugs. By the time a drug has undergone the required testing and been licensed, half the patent period will usually have expired.
Once a patent on a drug has expired generic versions of the drug can be manufactured and marketed. For some drugs the period of patent protection can be extended for up to a further five-and-a-half years, so long as this does not take the time in which the drug is under patent protection beyond 15 years after the date it received regulatory approval.
That's a huge number if you ask me!Approximately, it may take up to 27 years, at most, and 20, at least! A generic drug can only be manufactured if a patent has expired. It takes 20 years for a patent to expire. Further, the patent-holding company may take longer before declaring that there's no infringement on its patent.