Why generic drugs are important

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Reference no: EM133499215

Assignment:

A drug is a chemical substance that is used to treat or diagnose a disease. It takes many years to find a new drug as it has to undertake many tests, clinical trials, etc in order to pass the USFDA standards. Just if the drug is accepted in the USFDA it is legal to obtain manufactured in the Pharma industries. As drug research is extremely costly based on the payments of the study, the pioneer decides the price for the drug which is too high, at least not affordable by the ordinary man. For this reason, generic drugs are introduced. The Generic Drug Development provides information about the generic drug.

Explanations:

Why Generic Drugs Are Important?
What are the advantages and disadvantages of producing generic drugs?
Do generic drug products acts same as name brand product to patient?
What are the key important factors that makes generic drug product unique compared to name brand product?
References

Reference no: EM133499215

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