Generic Drugs Assignment Essay

A generic-drug is a pharmaceutical product, often intended to be identical or similar to the actual product. The key innovator company manufactures generic-drugs without a licence. Marketing of a generic-drug occurs after the after the expiry date of the patent rights attached to the main drug. Despite the fear for use of generic-drugs, they are as effective as the brand-name drugs and are even cheaper. For example, paracetamol is a chemical ingredient used in the manufacture of brand-name painkillers. It is sold like a generic-drug. Generic-drugs are easily affordable to the low-income earners within the society due to their low prices. The reduction in prices of drugs is a culmination of the adverse completion between drug companies and generic-drug companies after negotiations between drug companies in setting of drug prices failed. In particular, there has been a considerable debate in setting the prices of HIV/AIDs drugs.Generic Drugs Assignment Essay