Do you use generic drugs? Are they safe? Can they save you money? Tim Colligan, Director of Pharmacy at Optima Health, shares his insights into the value of using generic drugs.

The truth behind Generic Drugs.

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According to the Kaiser Family Foundation, retail prescription prices increased from an average of .67 in 1994 to .26 in 2006. That’s almost triple the annual inflation rate. For many people, an increase in prices means an increased use of generic medications. icyou’s Rebecca Fox helps answer questions about the differences between the options. For more health related videos, please visit www.icyou.com
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Dr. Krobot talks about the tests generic drugs must pass to be approved by the FDA. www.unmc.edu/askunmc

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The History of Generic Drugs

The history and the story of generic drugs is very long. But as a layman, all we need to understand clearly is that these generic drugs are nothing but “general drugs” or you can say cheap representation of original drugs. Basically to make a drug requires years of research in the laboratory first and then once prepared the drug has to undergo many clinical and market tests. All in all to put it the entire point from the point of view of consumer, the process of drug making is not only hugely time consuming but also very – very expensive.

Before these drugs are launched in the market, they need to have a patent. There after they are presented before the market for sale. The problem with these drugs is that they are exorbitantly priced for the company has to make for all the investments it did for the drug. It is at this juncture that the Generic drugs come to the seen.

Generic drugs do not have patent protection and that makes the generic drugs cheaper because they don’t have to waste time and money in patenting process. Generic drugs though maintain the original formula and active ingredients of the originally researched drug. Generic drugs just take a short cut to patenting process and the research process and these two factors make all the difference in the cost of the generic drug.

For the consumer, generic drugs are a boon. Economically weaker section of society that also includes a large percentage of older population is hugely benefited by the generic drugs. These generic drugs have the same composition yet are much cheaper than the original drugs. Being affordably priced these generic drugs can be easily purchased by the economically weaker section of society who would have otherwise ailed through the illness due to costly drugs.

Generic drugs are identical to the original drug in all aspects, be it dose, strength or effect. Generic drugs have a hugely competitive market and this in turn is beneficial for the consumers in the form of reduced prices. Generic drugs are the bio equivalent version of original drug. This simply means that they are identical in composition and formulation to original drug. Generic drugs are not much different than the brand named drug, except actually the brand name. In fact generic drugs are much more common and widely used.

Generic drugs are a boon in disguise, both for the consumer and the

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Are biotech drugs really that different from traditional pharmaceuticals. You bet they are. Learn why here.

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On the Brink of Generic Biotech Drugs, What’s the Cost to Innovation?

In a recently published report, the Federal Trade Commission suggested that the current allotment of a 12- to 14-year regulatory exclusivity period for product innovation to develop products at biotech companies is“too long to promote innovation.”

The same report, published June 4, also indicated that developing generic biotech drugs would help bring down the cost of U.S. health care. These less expensive versions are expected have prices discounts that are “between 10 and 30 percent of the pioneer products’ price,” the FTC said in its report, available here.

Shortly after report’s publication, President Barack Obama mentioned in a speech to the American Medical Association that creating a pathway at the FDA for approving generic biotech drugs would save the United States “billions of dollars.” But, as Arlene Weintraub was quick to point out in BusinessWeek, “How many billions? And how fast would those savings be achieved?”

With the advent of biotech generics, or follow-on biologics (FOBs), an impact on the economy is guaranteed, albeit unquantifiable. Industry insiders highlight that the biotech sector also stands to undergo some immeasurable changes itself.

“I am worried that the generic biotech companies make it less attractive to innovate,” said Mouli Cohen, entrepreneur and founder of Voltage Capital, a private equity innovation fund. Cohen’s firm invests in biotech startups and added, “Innovation and the ability to drive the process towards quantifiable outcomes is the hallmark of business in the U.S. Cannibalizing this process could reduce us to a mediocre player.”

Indeed, as PharmaTimes noted in reporting on the June 11 hearing by the House Energy and Commerce Subcommittee on Health, concerns have risen as to whether or not innovator biotech companies will be able to recoup their Research and Development investments, were FOBs were permitted to “come speedily to market.”

“R&D is increasingly expensive,” Cohen said. “The major pharmaceutical companies have reduced their efforts. This shifts the burden onto biotech and academia. In the end, someone or some entity has to sponsor the work. The cost will shift, but just like the medical system, the industry will break down if the compensation and the regulatory constraints become increasingly unfavorable.”

This means that biotech, although recently predicted by EvaluatePharma to achieve the largest growth of the any drug industry over the next five years, faces some massive obstacles in terms of funding.

“Two thirds of the future clinical pipeline for patients resides in small biotech companies – companies without profits, companies relying heavily on

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