Generic drugs are a medication that is produced and distributed, but does not have a patent. Generics don't have patents on their active ingredient, but may have a patent on their unique formulation. A brand name drug with the same function would be the main brand and the generic is generally a cheaper alternative.http://www.trcb.com/en-Us60Sat, 26 May 2012 07:25:07 ESTCopyright 2012 Johnny Simmona, TRCB.com All Right Reservedhttp://www.trcb.com/health-and-fitness/medicine/what-are-generic-drugs-exactly-21076.htm<p>Generic drugs are a medication that is produced and distributed, but does not have a patent. Generics don't have patents on their active ingredient, but may have a patent on their unique formulation. A brand name drug with the same function would be the main brand and the generic is generally a cheaper alternative.</p><p>According to Unites States of America's Food &amp; Drug Administration, generic drugs must have the same active ingredients as the brand name formula. They are generally within an acceptable range, called a bioequivalent range, to the brand name formula. The FDA consider generics identical in the legal sense of the word and therefore the same regulations apply where strength, dose, administration and safety are concerned.</p><p>Once the patent of the original developer expires, generic medications become available. When this happens, competition in the market lends itself to lower costs for both the generics and the brand name products.</p><p>Drug patents in the USA protect a brand for 20 years, but they have to be applied for before commencement of clinical trials. A patent usually only last for 7-12 years.</p><p>Health insurance companies and the consumer save a lot of money with generic drugs. When drugs are no longer patent protected, pharmacological companies have lower costs in developing the generic drug that enables them to uphold profitability and therefore the savings are passed on to the patient. Even developing countries are able to afford generic drugs easily.</p><p>Many countries are importing generic medicine from India, the world's leader in generic drug manufacturing. Reverse engineering is applied to known drug compositions to create bioequivalent counterparts thereof. Since drug testing has taken place by means of clinical trials performed by the brand name, generic manufacturers don't have to prove the efficacy and safety of the generic drug.</p><p>Marketing campaigns of brand name drug manufacturers also benefit the generic manufacturers. Since the brand name product has probably been in the market for around a decade, it is well known to the consumers, as well as doctors and pharmacists. It is easy for a health care professional to suggest a generic brand to their patient.</p><p>During the patent protection period, the brand name company monopolizes the market and therefore they can price the product in order to maximize profitability. Usually, during this time the drug is highly over-priced. This gives them the funds to research and develop new drugs. Most generic medication manufacturers cannot afford this.</p><p>Legally, generic drugs can be produced in the instances where either the brand name's patent has expired, when the generic manufacturer can certify that the brand name's patents are invalid, for drugs that have never held patents, or where the country does not enforce drug patents. Certain patents may only apply in certain countries.</p><p>When a patent expires, the monopoly is removed. Generally patents are not renewable. If the composition of a drug changes significantly in a new formulation, it will have to be patented again and new clinical trials will have to take place. If the original compound changes, the generic version with the original composition may still be sold unless it is taken off the market by regulators.</p>Thu, 28 Jan 2010 22:56:21 ESThttp://www.trcb.com/health-and-fitness/medicine/what-are-generic-drugs-exactly-21076.htmTRCB.comHealth and Fitness / Medicine