Generic versus branded medicines

Generic medicines are produced by manufacturers other than the original innovator company that holds the patent for a particular pharmaceutical product. Such products can be marketed after the expiry date of the patent or other exclusive rights enjoyed by the original innovator company. A generic medicine contains the same active ingredient as the original product manufactured under patent, with the same dose, route of administration and concentration. It is essential that the generic medicine has the same bioequivalence, quality, performance and intended use for the same disease condition, as the innovator product. The name of the medicine, its appearance and packaging can be different from the original research product with the brand name. Ideally the generic medicine should be marketed with the name of the active ingredient contained in it. As the expenses incurred by the original innovator company for research and development, clinical trials and marketing are generally very high, the company sets a high price tag for the drug during the period of patent rights. Once this period of exclusive right is over, the same drug can be manufactured and marketed by other companies at a much lower price with a generic name.