Tag: Generic Drugs
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What Are Generic Drugs?
When a pharmaceutical company develops a new drug, it’s given a chemical or generic name based on its chemical structure, and a brand name for marketing purposes. The drug is patented for 17-20 years, during which only the patent-holding company can manufacture, market, and sell it. Once the patent expires or is invalidated, other companies…
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Pharmacy, Generic Drugs, Prescription Medications
The Basics of Generic Drugs: Quality, Cost, and Availability Why Are Generic Drugs Cheaper? Generic drugs are typically more affordable than brand-name drugs, but this doesn’t mean they are of lower quality. The reduced cost is mainly because generic drug companies do not have to invest in the costly process of developing and marketing new…