12 Apr What is a Brand Name Drug
What Is a Brand Name Drug?
What Is a Brand Name Drug?
A pharmacy can have different versions of the same medication. Typically, a brand name drug will be more well-known and popular. Learn all about it here.
Keyword(s): brand name drug
Sometimes it feels overwhelming to walk down the aisle at your local pharmacy and look over what feels like endless options. There are many different medications out there, and many different companies that make those medications.
In determining what products and prices you may want to engage with, it can help to have some knowledge on your side. Understanding the distinction between a generic product and a brand name drug can help you on this journey.
What is the difference between a brand name item and something that is released without the association of a brand? Read on and we’ll walk you through everything that you need to know.
What are Generic Drugs?
In order to understand what a brand-name drug is, it can actually be more helpful to discuss what a generic drug is. It’s one of those terms that many out there don’t understand.
Different pharmaceutical companies have created various products over the course of many years. You are likely familiar with a great many of them. Generic medications are chemical copies of these original products, made from the exact same active ingredients.
Generally, you’ll see these generic medications at your pharmacy in plain-looking bottles and containers. They might catch your eye because of their price. Generic medications are always available at a cheaper price than their branded counterparts.
The discounts might be staggering, with many far more than half the price of the brand name you may be familiar with.
What’s the deal here and why are the prices so cheap? It’s worth looking into. You might find that you can save a lot on medication.
What is a Brand Name Drug?
When a large pharmaceutical company creates a new medication, they are helping many people deal with complicated health issues. It’s in the best interest of the general public to have these companies working, researching, and aiming to create new helpful products.
As such, the FDA often gives priority to these companies in order to encourage them to continue to push to create new products. These companies are granted what is known as an FDA patent.
This allows medication manufacturers the exclusive right to profit from their product for many years after its initial release. During this window of time, no generics can be released to compete with the branded version of the drug.
However, the patent will eventually expire. During this time, generics can be made and then released on the market. They still require approval from the FDA, though it’s easier to secure this approval given they are carbon copies of the branded medication.
Generic medications are required to meet the same quality, safety, and effectiveness as their branded counterparts. A generic medication can not work less efficiently and still be released.
While most brand-name drugs are created within the United States, generic medication stems mostly from production in countries outside of our borders.
Purchasing From Brand Manufacturers
With this knowledge in hand, is there any reason why one might desire to purchase the more expensive brand drug as opposed to the generic? Like many things, this might come down to strictly a sense of personal preference.
In some cases, purchasing a brand-name medication might be the only option available. The patent might be still active and there will be no chemical copy available yet. The store you’re visiting also simply might not sell generic versions of the medication you’re looking for.
If you’ve taken a generic drug in the past and found that it hasn’t helped your symptoms, it may be worth trying out the brand-name drug instead. If you’ve had any side effects, it might also be worth taking the brand-name drug as opposed to the generic.
Sometimes, the inactive ingredients in generic drugs can provoke an allergic reaction. While this is rare, if you experience it you’ll likely want to stick to the brand-name drug.
Some people simply prefer sticking with a brand because they know it and feel comfortable with it. They might like the packaging or feel they want to support a specific American company.
At the end of the day, it’s the choice of the consumer to pick the product they want and pay the price that they feel comfortable with.
Why Do Brand Name Drugs Cost More?
Why is the asking price for a brand-name drug so much more than its chemical copy? This is a question that might leave you scratching your head as you stand in the pharmacy aisle.
When a pharmaceutical company creates a new medication, they must put a great deal of work and money forwards. It takes years and years to perform the research and trials needed to get a new medication approved by the FDA.
Brands receive their patents because of all this hard work. The manufacturer gets to set their price for their product as a result. Due to all the work put in, the manufacturer will often ask for a fairly high price.
They need to make back a great deal of money in order to turn a proper profit.
Often, when the patent expires and generic products come out, the manufacturers will lower their prices as well. This helps keep them in competition. However, in order to maintain dominance as a brand, they’ll keep the price up.
Understanding Brand vs. Generic Drugs
There is a lot of confusion out there about the differences between brand-name drugs and generic drugs. The above information can help you understand what a brand name drug is and why they are often priced as they are.
Need more help understanding the wide world of medicine? Contact us at any point for assistance.