Generic Drugs facts

While investigating facts about Generic Drugs Meaning and Generic Drugs India, I found out little known, but curios details like:

Generic and brand name drugs are required by U.S. law to be equally effective

how generic drugs are made?

An Australian doctor has set up a real-life Dallas-Buyers-Club-style group to enable patients with hepatitis C to buy imported curative generic drugs for a fraction of the cost

What generic drugs does teva make?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what generic drugs does pfizer make. Here are 22 of the best facts about Generic Drugs List and Generic Drugs Definition I managed to collect.

what generic drugs are made in india?

1. The main difference between a brand drug and its generic equivalent is the cost of the product. A generic drug must contain the same active ingredients and must be equivalent in strength and dosage to the original brand-name product.

2. Pharmaceutical companies pay their competitors to not make generic forms of their drugs so they can continue to charge more to consumers.

3. There's a reason there's no generic insulin for diabetics. Its discoverers gave the patent to their university for $1, but the university couldn't make what was needed quickly enough. Drug companies have kept making small changes since the '20s to keep it from going generic.

4. In 2000, the U.S. drug company Mylan agreed to pay $147 million to settle accusations by the FTC that they had raised the price of generic lorazepam by 2600% and generic clorazepate by 3200% in 1998 after having obtained exclusive licensing agreements for certain ingredients

5. In 2000 the US drug company Mylan settled for $147 million amid accusations by the FTC that they had raised the price of generic lorazepam by 2600% in 1998 after having obtained exclusive licensing agreements for certain ingredients.

6. Between 2002-2011, Americans saved over $1 trillion by using generic prescription drugs instead of major brand names.

7. The US Supreme Court has ruled that generic drug manufacturers cannot be sued for defectively designed drugs.

8. Pharmaceutical Allergan recently transferred a patent for drug Restasis to a Native American tribe. Allergan then struck an exclusive licensing deal with the tribe. This will protect the patent against generics and circumvent U.S. law.

9. Generic drugs makes up 90% of drug supply in US, but many overseas manufacturers have been shown to fake quality-control data, have bird infestations, toxic impurities, unapproved ingredients and dangerous particulates. The FDA is essentially ineffective when it comes to global regulation.

10. Due to generic drug manufacturer monopolization, flucytosine currently costs approximately $2000 per day in the United States while the same treatment in the United Kingdom is approximately $22.

Why generic drugs are cheaper?

You can easily fact check why generic drugs are bad by examining the linked well-known sources.

The rights to generic Crohn's drug Asacol were blocked by just adding a capsule around the drug and changing the name to "Asacol HD"

"branded generics" are a real thing in the pharmaceutical industry, referring to generic prescription drugs which have become more popular than the original - source

Over 80 per cent of the antiretroviral drugs (ARVs) Médecins Sans Frontières uses to treat more than 220,000 people in 23 countries are produced in India. As India produce quality, affordable, generic versions of medicines it'searned the nickname 'pharmacy of the developing world' - source

Martin Shkreli used an FDA risk evaluation plan to block all generic competition for his 60 year old drug daraprim that had no patent.

The pharmaceutical giant Allergan attempted to protect their patent on a lucrative dry-eye drug by transferring the patent to the Mohawk tribe, who received $13.75 million and claimed "sovereign immunity" to stop the introduction of a cheaper generic. The scheme failed. - source

When generic drugs don't work?

California's generic drug prices recently increased over 37% on avg compared to the annual inflation rate of 2%

How generic drugs are approved?

Generic Drug Prices Skyrocketed From 2013 to 2014. The Largest Increase Being A 17,714 Percent Increase In Tetracycline. The Change Prompted A Probe By Congress

Two women in Chicago are responsible for naming all generic drugs.

Nearly all pharmaceutical generic drugs names are created by 2 women in Chicago

It's so costly to obtain FDA approval to sell a generic drug that the same pill that costs about 5 cents in India costs $750 in the United States and that it had nothing to do with IP law.