In the ever-expanding world of medications and their subsequent brands, consumers are often at odds with whether to pay extra for brand name medications or to go generic. Many people swear up and down that generic is just as good as brand name, but if that’s true, why do people continue to buy brand name drugs. Is it advertising, or is there truly a benefit to the brand?
Brand Name vs Generic Medications
But are they worth it?
Most consumers would tell you no, but many consumers also abide by the mentality that branded medications are somehow more reputable or worthwhile/potent. However, once you understand how the basic lifecycle of medication research and development works, you will see why:
- These medications are so expensive
- Generic is cheaper
Developing a new medication is an expensive proposition for any company. A lot goes into not only researching a drug and arriving at the intended effects, but it must be as safe as possible to not only receive FDA approval but gain public traction. We’ve all seen television commercials for medications with an almost comedically long list of side effects, many of these medications do not survive the market for long and their makers go bankrupt.
Because creating these drugs are so expensive, manufacturers patent the drugs they create and can sell them exclusively for a period of time. It is in this period of time they hope to recoup much of the costs of developing the drugs in the first place. The current length of time for a newly patented drug is 20 years.
This is predominantly why the cost of the medication is significantly higher. When the patent expires, generic versions of the drugs are allowed to be marketed and sold.
These generic versions are—as many of you may have guessed, just as potent as their brand name counterparts. The only exception to this are some medications that are highly dose-dependent such as thyroid medication (levothyroxine), where it has been shown that brand name varieties (Synthroid) are better at maintaining a euthyroid state. This is because even slight mcg differences in doses can have noticeable effects on patients as our bodies are very sensitive to thyroid hormones. However, it is also important to note that many people use generic levothyroxine to sufficient effect.
For the vast majority of medications, they are in practice, the same.
A-S Meds On Site Dispensing Solutions
Part of our services is providing the necessary logistics expertise to repackage pharmaceuticals and deliver them on time to businesses. Our web-based dispensing system lies at the heart of this timely delivery—which is crucial in getting medications to customers on time.
If you read our blog about repackaging, you’ll know that the incredibly large pharmaceuticals industry relies on having pharmaceutical repackagers such as AS Meds to function appropriately. The United States is a fairly large country with a high demand for various drugs, getting these medications to their respective locations requires many companies offering supply chain support.
In the case of AS Meds, we proudly provide and repackage many generic medicines because they are extremely cost-effective and just as potent as their brand name counterparts. We are happy to be a part of many companies achieving a better generic utilization rate for their patients.
In an age of ballooning healthcare and prescription medication costs, this allows us to provide pharmacies and other medical businesses that dispense medication to do so at an affordable rate to their patients while also expanding their profit margins.
For more information on our medication dispensing solutions, contact us today!