Generic Drugs the Choice of New Generation

The tremendous increase is observed in the sale of generic drugs in last 10 years. This fact gives us the idea that generic drugs are the choice of the new generation. It also means that new generation prefers generic drugs over the brand name drugs. The demand for the generic drugs is increasing all over the world. Generic drugs have captured the market of pharmacy in the world by holding more than 50% of share. In last 5 years the sale of generic drugs in the world has reached above 10 hundred millions.

The first generic drug was manufactured in 1920. It was the generic version of Aspirin. But due to the improper marketing and the market leadership by the brand name manufacturers. The generic drugs used to fail in the market. During the 1930’s and 1940’s, generic drugs were considered as the duplicate drugs which can cause severe harm to the health of the individual consuming it.

It was in 1962, when Food and Drug Administration in United States came into the picture and reformed laws about the manufacturing and sales of the drugs in the market. Generic drugs are the perfect copies of the original brand name drugs. The new invented drugs had to go through a lengthy and expensive process that included large-scale human trials. For the generic drugs also it was mandatory to undergo the clinical trials same as the original branded drug. In 1983, only 35% of the original branded products were having the generic brand competitors.

The revolution took place 10 years ago by the invention of generic Viagra that was the generic version of the original Viagra that was used to treat the erectile dysfunction. The original branded Viagra was very expensive and was out of the reach of the common man. But, the new generic Viagra was very cheap in comparison to the original branded Viagra and was same in effectiveness and the properties. Thus, the generic Viagra become the choice of the customers and thus the new light of hope developed for the generic drug manufacturer. Generic Viagra also got its approval from the Food and Drug Administration and became the maximum selling drug in the world.

Generic Drug manufacturers started getting the approval from the FDA and thus were allowed to sell the generic drugs directly in the market. Here came the turnover in the generic drug industry and generic drugs started selling in the market on large scale. One of the main reasons for the increase in the sale of generic drugs is the advertisements done by the generic drug manufacturers about their low prices than the original branded drugs. The prices of the generic drugs were 70% less than the original branded drugs because of the low investment of money in manufacturing, research, and the clinical trials.

New generation understood the fact that generic drugs are the exact copies of the original branded drugs. The young doctors also started prescribing the generic drugs to the patients as the step therapy. The insurance agencies also started forcing the doctors to prescribe the generic drugs to save their money. Event the customers prefers the generic drugs because of the low prices and the same effectiveness. Thus, we can say that generic drugs became the choice of the new generation.

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