In recent times the world has observed a sharp increase in the demand for cost-effective generic drugs. In such a scenario, India has gradually surfaced as generic drug destination globally. It is a boon for people living in the underdeveloped countries or patients looking for cheap medicines. A steady supply of antiretroviral drugs to the underprivileged countries by generic medicines suppliers of India is a noteworthy achievement
A generic medicine is a drug created to be the same as an existing approved brand-name drug in dosage, form, safety, strength, route of administration, quality and performance characteristics. In simple terms when the patent of a brand-name medication expires, a generic version of that drug can be produced and sold.
Every drug starts out as a brand-name product. Pharmaceutical companies invest a whole lot of time and money on research, development, and manufacturing of the medicine. After getting the approval from the Food And Drug Administration(FDA), the drug receives its patent. The patent gives the pharmaceutical company that created the drug the right to exclusively sell it for a certain time period. Brand- drugs are costlier because the company has to cover-up the research, development and promotional costs.