Generic Medicine-To Bring Down Medical Bill
I am writing this blog purely based on my experience with generic medicine and how people around me are unaware of the generic medicines in India. Also after COVID-19, the scenario of healthcare is changing and expenses on medicine contribute to a minimum of INR 1,000 per month per person. How generic medicine can bring down medical bill expenses?
What is Generic Medicine?
According to the Government of India, generic drugs are marketed under a non-proprietary or approved name rather than a proprietary or brand name.
Myths and Facts: About Generic Medicine
| Myths | Facts |
| Generic Medicine is “not safe” as Branded Medicine | Generic or branded both are safe as they are approved by the accrediting organization |
| Generic Medicine is “not effective” as Branded Medicine | Generic and branded medicine has the same composition and formula |
| Generic Medicine “causes side-effects” while Branded Medicine will not | This is purely a myth and intuition because both are of the same chemicals and only after proper approvals both can be released in the market |
| Generic Medicine is “cheaper because low standard chemicals used” as compared to Branded Medicine | Generic medicine cost is lower because they don’t have to bear the cost of Research & Development (R&D), process development and marketing cost. Therefore they are able to sell the medicine at 50%-85% lower rate compared to the branded medicine |
Why Generic Medicine is not so popular in India?
India is the largest producer of generic medicine in the world and approx. 40% of the global market share. As the facts say India is the ambassador of generic medicine in the World. However, why the Indian pharmacy retail market does not see generic medicines in the stores because of the following points:
- False promotion about the generic medicine
- Many practicing doctor showing trust towards branded medicine
- Many doctors not adhering to MCI (Medical Council of India) notification about prescribing drugs using the generic name
- Drug companies to mention generic names at least twice bigger and bolder fonts compared to brand name
How is the Government of India promoting generic medicine?
The government of India is promoting generic medicine through Jan Aushadhi Kendra and for locating the stores visit the link.
My experience with Generic Medicine and Savings
Diabetes cases in India are rising and India is second to China in terms of cases. So will take an example of diabetes medicine as a common reference.
Medicine considered for reference is Metformin Hydrochloride as it is used for treatment of type 2 diabetes.
| Salt Name | Generic Medicine MRP^ | Branded Medicine MRP*^ | Difference |
| Metformin Hydrochloride 500 mg tablets | INR 5.50 – 10 per strip of 10 tablets | INR 100 – 150 per strip of 10 tablets | INR 94.50 |
* Branded medicine MRP of those from the leading pharmaceutical companies
Now if we do the maths for a month if the dose is one unit per day. Then 3 strips are required in a month if a strip has 10 tablets. Therefore total saving in a month if generic medicine is purchased is approx. INR 280. Just imagine the benefits a poor family can receive through just small initiatives.
Is there any other option for generic medicine other than Government of India stores?
Yes, generic medicine should be available at any medical store however due to lesser margin many medical stores avoid selling them. Other prominent names who have similar generic stores in India are (below list is not a complete list rather an example of brands with generic medicine stores in India) :
- Dava India, store locator link
- Generilife, store locator link
- Generico, store locator link
Conclusion
If we are really thinking for healthcare then we have to think about generic medicine.
If any support required with respect to generic medicine, please contact https://sarathtalks.com/contact-me/.
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