Posts Tagged “www.fda.gov�click”

Jul 23 2006

FTC facts on generic drugs

One of the issues that always comes up with prescriptions is the idea of brand name drugs versus the use of generic drugs. Drug companies are very good at researching and creating drugs and for this they get a patent on these drugs so that they can sell them with no competition for a period of a few years and this is a fantastic advantage for them. All you

After a period of 7 to 17 years depending on the drug there is a time when companies can create and market copycat drugs, generic drugs, that can compete with the Major drug companies original drug. There is a very large market on both sides of this issue and as you can imagine the marketing and government lobbying in this field are extremely aggressive.

need to see how powerful a restricted market is is to look at the impact on society and marketing that Pfizer has had with their little blue pill Viagra. When Viagra hit the market and for many years there is not competition and Pfizer has really made the most of the Viagra name to build that market so that any competition by a generic drug when they are allowed will be an uphill battle. The Federal Trade Commission has some into on generic drugs that I thought I would share.

Prescription drugs can be a costly medical expense, especially for older people and those who are chronically ill. However, each state has a law that lets pharmacists substitute less expensive generic drugs for many brand-name products. Depending on your prescription needs, your savings could be significant. Before you talk with your doctor or pharmacist about switching, there are things you need to know about generic drugs and the law.
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