Why are generic pills cheaper than innovative brand name pills?
Patented medicine is more expensive because of several factors: (1) innovative brand-name pills require great amounts of money (from hundreds of millions of dollar to billions) and time (nearly 10-15 years); (2) proving the safety and efficiency of said medicine is very costly; (3) more so, good advertising techniques are quite costly as well. The manufacturer then has to compensate its expenses, which is why the price for patented medicine is so high. Generic pills are cheaper because: (1) the production doesn’t require a new formula or production technology (existing ones are used instead); (2) generic pills, being bioequivalents of original drugs, don’t need the additional advertising. That is why generic pills are cheaper and so popular.
