Why are generic medications cheaper than brand name medicines?
Big pharmaceutical companies incur a lot of expenses from researching, developing and advertising their products. Getting an FDA approval alone can cost millions. Because of this, manufacturers need to recover the costs of selling their branded products. Companies producing generic medicines did not have to pay for research and development thus the cheaper price on their products.
Related Questions
- What does the term "generic" mean? Do brand name medications produce the same effect that the generic medicines do?
- What does the term "generic" mean? Do generic medications produce the same effect as the brand name medicines do?
- What does the term "generic" mean? Are generic medications effective the same as the brand name medicines?
