Posted on January 10, 2020 at 12:00 PM
A generic version of the drug can be produced and sold when the patent for a brand-name product expires. A generic version of medication must use the same active ingredient(s) as the brand name drug and must follow the same standards for quality and safety. In fact, the FDA expects a generic drug to be similar to a brand-name drug in
Both generic drugs require U.S. review and approval. Before they can be marketed or sold over-the-counter, Food and Drug Administration (FDA)
Both medications, both brand name drugs, and generic drugs will perform well and be safe according to the FDA. Generic drugs use the same active ingredients as their counterparts in the brand name and thus have the same risks and benefits.
Many people worry about the quality of generic drugs. To ensure quality, safety, and efficacy, the FDA carries out a thorough review of all generic drugs
According to U.S. trademark laws, generic drugs are not allowed to look exactly like any other drugs sold. Although the generic drug must have the same active ingredient as the brand name drug, it may be variable in color, texture, specific inactive ingredients, and form of the drug.
It takes more than seven years to bring a new drug to market, which costs more than $800 million, according to America's Pharmaceutical Research and Manufacturers. Because generic drug makers do not need to develop a drug from scratch, getting the medication onto the market would cost significantly less.
Once a generic medicine is approved, the drug could be produced and sold by several firms. This competition is helping to bring down prices. Moreover, many generic drugs are well-established, often used products that do not have to pay the advertising costs. Generic prescription products often cost 80 to 85 percent less than brand name drugs.
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