Branded vs Generic Medications: Unveiling the Myths
The Landscape Recent policies, coupled with the removal of fuel subsidies and the fluctuating forex market, have ushered in an era of hyperinflation. One major consequence? A whopping 150% spike in medication costs. But here's the silver lining: Nigeria boasts an array of competent local pharmaceutical manufacturers like Fidson, Emzor, Swiss Pharma, Drugfield, Vita Biotics, Evans, and Chi Pharmaceuticals. They produce not just any medicines, but quality generic medications Branded vs. Generic: Unravelling the Puzzle For the uninitiated, here's a brief breakdown: Branded/Innovator Medications: Originally developed by pharmaceutical companies, they come with patent rights. Being first-of-their-kind, they're marketed under exclusive brand names, often at a higher cost. Generic Medications: Essentially bioequivalent to branded medications but are produced without the patent costs. They're rigorously tested and approved, ensuring the same efficacy, safety, and therapeutic benefits but at a fraction of the price. Some Key Facts Generic medicines have the same active ingredient as brand-name [...]