GDs Cost Will Lessen in Next 2 years

The good news is here, “The cost of the GDs will get more reduced.” This type of the changes in the pharmacy market will be very beneficial to the customers. In the next two years the condition of the market will get worse due to the recession, and during such time generic drugs (GDs) will be the best available option for the customers to save their hard-earned money. The US govt. has now started to promote the generic drugs to explain benefits of the generic drugs use to the consumers. Generic drugs are the adapted version of the branded drugs that are prepared using the same formulation of the branded drug. The only difference is that generic drugs are very less in price when compared with the branded drugs. Another difference is in the color of the generic drugs that is different than the branded drugs because as per the norms and conditions put forth by FDA, the color of GDs should not match branded drugs.

Generic drugs are approved drugs by the FDA, so they are absolutely safe and are as efficient as the branded drug when it comes in treating the patients. Generic drugs are approved by the FDA only after they pass out the certain norms and conditions like–the active constituent of the GDs and branded drugs must be same; the strength of the active constituent in GD should match up with the branded drug; the side effects of the GDs should not be more than the branded drugs; the dosage of the GD should be same as the branded drug; the time taken to show the effect by the branded drug and GD should be same. It is only after these tests that GDs get passed on to the next quality test in which the clinical trials of the drug are performed.

Once GD clears the clinical trials then the officials from the FDA visit the manufacturing unit of the GD to check whether all the safety procedures are followed by the manufacturer or not. Thus, after all these trials only GD gets approval to be sold in the market with the limited vendors. Once the GD comes to the market, the FDA keeps an eye on the sales of the drug and also whether any complaints are given by the customer about the GD. But, if no complaints are made then the drug then the manufacturer is allowed to sell the GD to any drug vendors. This theory is now clearly being expressed to the customers and thus, GDs have become the favorite choice of the customers. Despite of the low prices generic drugs are able to maintain very good quality. This is standing in the advantage of the GDs.

The US govt. has already reduced the taxes on the GDs, which has reduced the costs of the GDs to a lot extent. Even still govt. is planning to reduce even the sales tax on the GDs in the next 2 years which means that GDs will get cheaper than ever. Govt. is also trying to invest more money in the production of the GDs rather than the branded drugs so that they are able to save lot of money. Last year US govt. was able to save millions of the dollars due to the use of the GDs by the customers. Thus, the health minister has taken a decision that US govt. will invest more dollars in GDs industry and will try to make the GDs as cheap as possible.

The shop owners also earns the lots or profits with the sale of the GDs, so the govt. has now asked these shop vendors to cut of their profit range so that GDs get cheaper and even the very poor person will be able to afford the medicines. The shop owners have started the new discount schemes on the purchase of the GDs and are also giving some GDs free after making a purchase above 500 dollars. Thus, it is sure that price of GDs will reduce in coming years.