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Multinational Pharmaceutical companies innovate new drugs for the treatment of incurable diseases. There are so many hidden expenses for innovation like research, clinical trial, expensive raw material, costly process charges, government laws, marketing expenses etc. All these reasons make innovative drugs expensive. After completion of invention & trial, company apply for patent of that medicine.
Company can get patent rights for their innovative / research product. After getting patent rights company sales these product in the market. As per patient rule no other one can manufacture that medicine unless patent is expired or innovator is giving rights to other one on the bases of royalty.
Innovated medicines are very expensive due to huge research and trial expenses, marketing expenses, monopoly and non availability of the same products, innovators company wants to make multiple profit while their manufacturing cost is very low.
Innovative medicines are sky high not in reach of common man. So many persons need these medicines but cannot take treatment because of its high cost and the other one not easily available in their reach which result patients have to discontinue or stop the treatment.
So many drugs are innovated by international pharmaceutical companies for Cancer, HIV, Hepatitis, Life Saving etc. That are very expensive while their generic version is very economical in India.
Today generic drugs are ambrosia for patient and as good as branded medicines.
A generic drug is a drug that is exactly the same as the original brand drug, but can only be manufactured after the expiry of the patency period.
A generic drug is the same as a brand-name drug in:
- *The way it works
- *The way it is taken
- *The way it should be used
India is leader in manufacturing of generic medicines because government of India can give licenses to manufacture generic version of patent drugs after completion of three years of patency. There are some rules & regulations for giving approval-
1-the reasonable requirement of the public with respect to the patent invention have not been satisfied.
2-the patented invention is not available to the public at a reasonable & affording price.
3-the patented invention is no worked in the territory of India.
So after getting approval Indian pharmaceutical companies can manufacture patent products in India .Due to low production cost generic version & branded generic versions are sold at very low costs
A branded generic is a drug that is bio-equivalent to the original product, but is marketed under another company’s brand name. There are so many Indian pharmaceutical companies who are manufacturing world class medicines & sale generic medicine with their own branded generic name.
Indian generic drugs will make a significant contribution to humanity by improving global health.
Shubham Pharmaceutical focus on impacting humans with affordable & high quality medicines obscures all political boundaries ensuring a true global reach
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