A generic drug is a replication of the same active ingredients as originally present while formulations. According to the Food and Drug Administration (FDA), generic drugs are identical or bioequivalent to the brand-name with respect to its pharmacokinetic and pharmacodynamic properties. Therefore, generic drugs are considered "replicates" in dose, strength, route of administration, safety, efficacy, quality, performance characteristics and their intended use. The use of the word "identical" is very much a legal interpretation, and is not literal. In most cases, generic products are available once the patent protections afforded to the original developer have expired. As soon as the patents expires and generic products came into the picture, the market competition increases and often leads to substantially lower prices for both the original brand name product and the generic versions. The time taken by a generic drug to appear in the market varies with their patent expiries. The effective life of a generic drug patent ranges between 7-12 years including the clinical trial phases. Prescriptions specifying the chemical name, rather than a manufacturer's name are issued; such a prescription can be filled with a drug of any brand meeting the specification for that particular drug. For example, a prescription for lansoprazole can be filled with generic lansoprazole, Prevacid, Helicid, Zoton, Inhibitol, or Monolitum.

Generic drugs are "over-the-counter (OTC)" drugs which are available everywhere including your nearby medical stores. One has to ask only for a generic medicine in place of branded one.
Different generic names are associated with different manufacturers, but they are legally fall under the regulations imposed by the government where they are dispensed. Generic drugs have the label of the manufacturer printed and the adopted name so called its non-proprietary name.

GENERIC MEDICINES: OTHER NAME OF FRAMED ONES A generic drug is a composition that is developed to be the same as a medicine that has already been authorised (the 'proprietary medicine').
A generic medicine is the composition of the same active ingredient(s) as the proprietary medicine, and used at the same dose(s) to treat the same disease(s) as the proprietary medicine. Generally, the colouring and framing of the medicine might be same as the branded ones but they do differ in its packaging form from those of the proprietary medicine.
A generic medicine is marketed and identified either by its internationally approved non-proprietary scientific name (INN) or by its own branded name. Generic medicines are widely used in cost-effective treatment of the non-affordable measures, and on the other hand also are increasingly prescribed by doctors as affordable and effective measures against the expensive ones.

A generic medicine provides the same level of quality, safety and efficiancy as the original branded name serves and undergoes strict scrutiny before it is licensed and given market approval by the medicinal authorities.
A generic medicine is more or less 20% to 90% cheaper than the branded one. In addition, the low priced generic drugs throws a tough and challenging competition on the brand names surviving in the market. The use of generic medicines saves patients and healthcare systems an estimated 35 billion Euro each year in European countries.

The major focus while preparing a generic medicine is establishing its bioequivalency. Bioequivalency here defines that, when comparing on a scientific scale, the generic medicine and the original product illustrates the same price and extent of biological availability of the active ingredient in the body when administered in the same dose. In simple terms, the generic medicine and the original product must be equally effective.

In the century with the increasing demand of health related services, generic drugs will prove themselves a major benefit to the society by delivering easy access to quality, safety and accuracy to the patient's health by simultaneously lowering the cost. Allowing effective competition between generic medicines and patent-expired original brands is crucial to lowering pharmaceutical costs and stimulating innovation.

Ageing populations and rapidly rising treatment costs are causing governments throughout the world to look again at the sustainability of their healthcare provision. Economically priced generic medicines provide a cost-effective means of controlling the fastest growing budget item in healthcare: pharmaceuticals. The EGA and its members will continue to work with the EU Member State governments and the EU institutions to develop affordable solutions for pharmaceutical care and to enhance Europe's competitive position in the global pharmaceuticals market.

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