What makes GENERIC DRUGS cheaper?
why do Generic Drugs are cheaper than Brand name Medications?
- Anonymous7 years agoFavorite Answer
The main reason that generic drugs cost less is because the manufacturers have much lower costs than the makers of brand-name drugs. This is because brand-name manufacturers often invent the drug, which can cost millions upon millions of dollars when you consider the research, resources and marketing that go into creating a product.
Generic manufacturers, on the other hand, do not need to make these expensive investments. This is because everything has already been done by the brand-name manufacturer – the formula is known and the trials have been done. The generic manufacturers’ single responsibility is to ensure that its version matches the quality of the original. There is, however, one downside for generic drug makers – generic drugs are generally not considered as “cool” to patients as the brand-name drug. This is, perhaps, the result of an absent advertising budget. Regardless, generic drugs give you the exact same results, for a cheaper price.Source(s): http://whatisgenericdrugs.blogspot.ca/
- Raoul DukeLv 77 years ago
companies making generic drugs are generally not having to spend the money in research and development.
- 3 years ago
Because Generics manufacturer companies not test generics before selling in marketing. Brand manufactures spend so much money in research and testing.
- Anonymous7 years ago
Because the companies don't have to spend on advertising and other promotion.