While the success and development of modern medicine and pharmaceutical industry have significantly improved the quality of healthcare and the life expectancy all over the world in the past century, in many cases the price you have to pay for these brilliant developments puts you in Stone Age and makes you wish there were no drugs at all the moment you see the medical bill for a serious treatment! In situations like this, many people remember of generic drugs and when there are good generic on the pharmacy shelf there's definitely something to be happy about.
First of all, let's see what generic drugs are in essence. When a pharmaceutical company brings up a new medication to the market, the drug is immediately patented for a period of time (usually 20 years). This means that this pharmaceutical company has exclusive rights for producing and selling this particular drug in a specific region (usually, a set of countries). When the patent expires, other producers, with the permission of the FDA, start producing the equivalent of the drug and selling it under another, "generic" name. The generic formulation has to pass different tests and get approved by the FDA in order to enter the market. This is required in order to make sure that the generic drug has chemical and pharmaceutical properties identical to those of the initial branded drug, and the only difference is the physical appearance and the label on the package.
Thus, generic medications have the same properties, deliver the same effects and have the same impact on the condition as their branded counterparts, only for a much lower price. According to statistics, generic drug formulations are on a steady growth of popularity and sales volumes with each year passing. Every year, the increase of generic drug amounts sold accounts 10%, and by far more than a half of all prescriptions in the US today are issued for prescription medications. Among the five most successful pharmaceutical companies in the US, four are working in the generic drug sector of the market. By far, there are 8400 generic formulations for the 11,000 medications listed with the FDA.
Why they are so popular? Well, in average, generic drug formulations are 30-80% cheaper than their branded counterparts, which results in about $9 billion saved by US taxpayers on medical costs each year. In order to understand why there's so a difference in price, let's compare brand Levitra with any of its generic formulations. The branded drug includes development, research and marketing costs in its price, that's why you will have to pay about $200 for a pack of 20 branded Levitra pills. Generic drugs only include the production costs with their price, so you are likely to pay about $120 for a pack of the same amount, dosage and strength. And it's evident that most men who are looking for an effective ED treatment but are on a limited budget, will choose the cheaper generic drug, since it has the same effectiveness and costs far less than the branded drug in a fancy package.
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