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Benefits Of Generic MedicationsWhy are Generic Medications Cheap?
The drugs no longer are protected by patents, there is an increase of competition among producers as there are several producers manufacturing the same medication under different trade names.
Companies that manufacture generic medications incur fewer costs in creating the generic drug as several costs such as drug discovery, research and development, clinical trials etc are not required.
Generic manufacturers also do not bear the costs associated with proving the safety and efficacy of the drugs through clinical trials, since these trials have already been conducted by the brand name company that held the patent for the same.
Benefits Of Generic MedicationsCosts of Generic Medications are very low and affordable to even low income groups
Generic Medications are a low cost alternative to branded drugs and provide us with exactly the same benefit. Using Generic Medications is therefore a smart choice.