Branded medicines and generic medicines may appear as two sides of the same coin – both are medicines. Both are intended to get us better. But, specific differences exist in how these products are positioned to the consumers.
Companies invest in research to address health problems across the world. When new medicines are discovered, the company responsible for it would be applying patent rights to prevent competitors and other companies from profiting from their discovery. However, patency rights are set to last a number of years.
After the rights have expired, other companies begin to apply the discovery and produce their own product. Because the companies who use the discovery have lesser costs for research, they can offer equally effective products at a more affordable price tag.
On your next visit to a pharmacy, feel free to ask for a generic version of the branded medicine. You can also talk with the pharmacists about branded options should you be looking for one.
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