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Generic Pharmaceuticals in India

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Generic Pharmaceuticals in India

A generic drug is a medication created to be the same as an existing approved brand name drug in dosage form, safety, strength, route of administration, quality, and performance characteristics The proponents of generic drugs claim that they are equally effective as brand or innovator drugs.

Manufacturing generic medicines is a specialized process. In a production industry, various skills are required. Starting from production to operation, and maintenance to quality control; the need for human resources is everywhere. It is not enough to manufacture pharmaceutical products in manufacturing units. It is equally important to take them to the customers. Sales and marketing teams play a vital role in it. They explore the markets and find out areas with high business potential.

India has shown significant growth in the last few decades. It is one of the strongest economies in the world today. Though every sector has performed well, industries such as pharmacy have grown remarkably well.

Generic medicines play a crucial role in the global health care system. Generics are available at a lower cost; they provide an opportunity for savings in drug expenditure in a country. As India is one of the highest in per capita out-of-pocket expenditures’ countries, such generics will save a lot of money which can be used for other health issues. Worldwide, the use of generic drugs has increased significantly in recent years. The government should ensure uniform quality across all the generics, and experts in the field of medicine say only then will doctors prescribe them willingly and with confidence.

Healthcare providers and policymakers need to keep drug prices affordable. Generic drugs offer an important tool for reducing the overall healthcare expenditure. As more and more patents expire, the generic versions of the pharmaceutical market are expected to continue to have increased sales.

The future is bright for generics!