Over the years, the price gap between generic medicine vs name brand medicine has widened. In 2013, generic medicine was about six times cheaper than their name brand counterparts.
In 2017, name-brand medicine was found to be up to eighteen times more expensive than generic medicine.
This leaves many consumers with no choice but to buy generic medicine and also leaves them wondering, why is there such a large price gap?
Read on to find out the differences between generic medicine vs name brand medicine. You just may be relieved at what you find.
How Are Name Brand Medicines Made?
Name brand medicines are any medicines that are produced and marketed under a trademarked name.
Drug companies go through extensive testing periods and clinical trials. This is to make sure that a new medicine is both safe to use and effective in treating the symptoms or disorders it is said to treat.
These trials involve figuring out the proper dosage and optimal method of taking the drug, whether that is orally, topically, or via injection. The trial period is extensive, as the manufacturers have to ensure that at least the majority of test patients have positive results.
Manufacturers also need to understand any possible side effects the medicine may have. Additionally, they must account for any allergens or medications with which the new medicine may interact.
Why Are Generic Medicines Cheaper?
Generic medicines are cheaper because they enter the market after their name-brand counterparts, so they don’t have to start the extensive trial-and-error period all over again. Generic manufacturers also don’t have to pay as much money for marketing because the brand name is generally already well-known to both doctors and consumers.
Online pharmacies are typically looking for ways to save you money. They will often offer the generic versions of name brand medicines as a lower-priced alternative. Simply search for name-brand medicines and Canada Med Shop will give you prices for both name brand and generic medicines!
What Are the Similarities and Differences of Generic Medicine vs Name Brand?
In order for a generic medication to be granted FDA approval, they have to have certain things in common with their name brand counterpart.
Generic medicine must have the same active ingredient as the name brand medicine. That means generic medicine contains the same ingredient that will actually act upon your disorder or symptom as the name brand medicine.
Generic medicine also has to have the same strength, method of administration, and dosage as the name brand medicine. In other words, generic medicine will act with the same force upon your disorder or symptoms. You can take the same amount with the same frequency as you would the name brand medicine.
The first difference you may notice will be the appearance. Of course, the name and packaging will be different from the name brand medicine, as these things are trademarked. In addition, the medication, itself, may look different in color or shape.
Oftentimes, generic medicines will have different inactive ingredients than name-brand medicines. For most people, these inactive ingredients, used in the fillers and preservatives of medication, are not an issue. If you have specific or unique allergies, talk to your doctor and find out if there are certain generic medicines that you cannot take.
These inactive ingredients may also change the rate and level of absorption in the body. A US study found that this difference in absorption only varies from 3.6-4.4%. That difference will not have a large impact on most people and it is up to your doctor to decide if a generic medicine is right for you.
Are There Generic Versions of All Name Brand Medicines?
When name brand medicines first arrive on the market, they are protected by a limited patent. That means that for a certain period of time, other manufacturers cannot use their formulas.
If your name brand medicine doesn’t have a generic version yet, give it time. Once the patent is no longer applicable, other companies will create a more affordable generic medicine.
Can I Buy Generic Medicines Without a Prescription?
A reputable online pharmacy will not sell you any prescription medicines without a signed prescription. This must come from a certified practitioner. If the medicine you need is over-the-counter, you may make your own decision between generic medicine vs name brand medicine.
If your doctor writes you a prescription for a name brand medicine, you must buy the name brand medicine. If you want to switch to the generic medicine, talk to your doctor. They may have prescribed the name brand medicine for a reason or they may simply not have known about the generic version.
What Online Pharmacy Should I Use?
If you’re looking to increase your savings, switching to the generic medicine vs name brand medicine is just the starting point. Online pharmacies can offer prices that are significantly lower than walk-in pharmacies, in part because they can service more patients from a single location.
Not all online pharmacies are alike, however. Make sure that you use an online pharmacy that is safe and reputable. Look for the CIPA seal and other official accreditations before you shop.
At Canada Med Shop, we offer both generic and name brand medicines to ensure that all patients’ needs are met. We also keep our Healthcare Assistant hotline open seven days a week to answer any and all questions you may have about your medicine.
If you have more questions about generic medicines or anything else we offer, contact us today. We’re happy to help!