What Are The Perceptions Of Brand Name Drugs Versus Generic Drugs

Abstract

The drugs are an important aspect in the medicine industry. It is the great concern of medicines when the doctor prescribes the generic or branded medicines. The generic medicines are at low cost and they work in the same why as branded medicines. The basic difference between both is the cost that is why many insurance companies suggest taking generic drugs. Despite of the cost benefit, the generic drugs are not used by many customers because the customers have developed many perceptions regarding generic medicines. The generic medicines are thought to be ineffective because they cost low. Customers also feel that generic medicines may have side effect therefore they refuses it take generic drugs and prefer to take branded drugs for their medication.

What Are The Perceptions Of Brand Name Drugs Versus Generic Drugs

Introduction

Generic drugs are almost the same as the brand name drugs. They differ significantly in costs. The insurers and policy makers greatly support the use of generic drugs because generic drugs are very less costly than that of the branded drugs. The costs of the generic medicines are low because such medicine manufacturers do not conduct the medical research studies in order to develop the medicines. As they copy the medicines of branded medicines therefore it costs low to them. The generic drugs functions in the same manner as that of the branded drugs. However, the generic drugs differ from branded drugs in a way that it costs less, its appearance is different. The appearance of generic drugs cannot be the same because trademark and marketing reasons and that is why the packaging, looks and the colors are kept. The appearance also has great impact upon the customers' perceptions. The generic drugs are manufactured in order to provide the required medication to people who cannot bear heavy medical expenses. But the perceptions of the customers are different in this regards. However, the generic drugs also contain the same active elements that are present in the brand name products and these generic medicines are work efficiently and safely like other branded medicines. In many developed countries in addition to developing countries, the generic drugs are being used in order to give the people of the country the low cost medication services.

Problem Statement

It has become a growing concern in the society that generic drugs should be avoided and the branded medicines should be taken. The perceptions of the customers support the use of branded drugs. There are many reasons behind the refusing of use of generic drugs. First of all the costs make them confuse. Customers feel that if it is the product with same features and it works in same efficient manner than why it is very less costly than the brand name drugs. This perception is due to lack of awareness in the people that generic drugs are copied and the research costs are not included in it. Secondly the appearance of the medicines is not like that ...