Read and learn about the generic drug?

Many drug manufacturers have exclusive patent rights to manufacture a particular prescription drug with a specific brand name, until the expiration of that patent. The pharmaceutical industry has evolved enormously in the current times, due to the increase in mass awareness for better health. Researchers from around the world are engaged in the development of miracle drugs. Once a prescription drug of this type is developed, the company has all the rights to obtain its patent and continue to produce that drug under its brand. However, other companies can also manufacture the same prescription drug but with a different generic name than the brand name. This generic name is coined with the chemicals used in medicine and reflects its chemical composition. The brand, on the other hand, is the name given by the manufacturer of the patented medicine.

No company can manufacture a generic version of a patented medicine before the expiration of its patent. Once the patent expires, these generic drug manufacturers can ask their state’s regulatory agencies to manufacture a generic cousin of that prescription drug. Therefore, it is an inexpensive replica of the brand name drug with a generic name. It has the same effect as the prescription drug but at a lower price.

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