The #Covid-19 pandemic has seen significant demand and growth for generic drugs, yet the limited access to basic medicines has caused misery, suffering, and many preventable deaths.
#Generic drugs use the same active ingredients as their branded counterpart and yield the same therapeutic effect. They have the same strength and dosage and are developed with the same quality standards as branded drugs. But their biggest advantage is the price.
#Genericdrugs are 30% to 80% cheaper, allowing wider outreach and affordability. This is why it’s not unusual for hospitals and physicians to prescribe generic drugs rather than branded drugs. The manufacturers of generic drugs do not spend time or invest in drug development, research, and discovery. They do not need to undertake long preclinical and clinical trials, allowing them to pass the savings to the end-user and drive drug expenditure southwards.
Generic drugs are as safe as brand name drugs. Globally, the uptake and usage of generic drugs have increased significantly in recent years. Given that generic drugs seek FDA approval before marketing and sales, and that the FDA grants these approvals based on comparable high standards in quality as brand name drugs, there is no reason for non-adoption.
For patients with health conditions that require the consumption of prescribed drugs in the long term, generic drugs are a great alternative. It helps patients keep the severity of their health condition in check whilst avoiding brand name drugs' high costs.
#Healthcare costs continue to rise rapidly globally; hence generic alternatives are important and need to be made available to patients in need. When it comes to helping people who need to take prescription drugs, generic drugs are an accessible and affordable option, which may increase the likelihood that patients follow through with doctor-recommended care.
India is one of the global leader providing generic drugs. 50% of the global demand for vaccines is supplied through the Indian pharmaceutical industry.
Let’s hope the #COVID-19 vaccine, when it comes out, will have versions that are economical and accessible to the remotest communities to help prevent further pain and deaths.