Why are generics cheaper than medicines with brand names?
Are you a printer?Let me use an illustration for you in explaining the difference between generic and brand drugs and also why the latter is more costly than the former. Brand name drugs are more like a newly designed work that is yet to be printed for the first time and it's definitely going to cost a lot at that stage. But generic drugs are more reprinting more copies of the designed work which is a lot cheaper.
I think I agree with you on this point.For a generic manufacturer, no investment is required. The drug’s formula is known, the generic maker’s only requirement is to demonstrate to regulators that its version is as good and effective in humans as the original.
But companies with brand names should make a big investment, and do a lot of advertising and they might be the ones who invented the drug if so they might have spent a lot of o money on that too.
That is one of the main reasons generics are cheaper than with brand names, it is not always about the quality.
Actually, generic medicine is solely cheaper as a result of the makers haven't had the expenses of developing and promoting a replacement drug. once an organization brings a replacement drug onto the market, the firm has already spent substantial cash on analysis, development, promoting and promotion of the drug.Why are generics cheaper than medicines with brand names?