Importance and Amazing Benefits of Generic Drugs
Generic Medicine

Importance and Amazing Benefits of Generic Drugs

The high price often associated with prescription drugs can make it hard to comply with a doctor’s directives for some patients. Many health conditions demand patients stay on a prescribed drug in order to decrease the cruelty of symptoms or live with minor discomfort.

When expenses are an obstacle to the constant usage of specific medications, patients should learn more about generic drug options rather than abandoning their prescriptions. Those who use generic drugs are in the great company since generic drugs match around 90% of prescriptions filled in the United States.

As drug research is costly since the payments of the study, the pioneer determines the price for the drug, which is actually high and at least not affordable by the ordinary man. For this reason, generic drugs are introduced by a generic pharma company in India.

Why Are Generic Drugs Import

ant?

A generic drug is a pharma medicine equal to a brand-name product in strength, dosage, kinetics, way of treatment, quality, and its intended usage. It may additionally refer to any drug, which is promoted under its chemical name without advertising.

For approval to promote the standard drug, an abbreviated new drug application known as ANDA is to be submitted by the generic pharmaceutical companies.

High-quality generic drugs are essential since they are less expensive choices to their brand-name alternatives. The high usage and easy accessibility of generic drugs of branded medicines have an actual result in saving expenses for health care users.

Although generics are demanded to fill most medications, the actual costs connected with these prescriptions are less when compared to branded counterparts. Generic Drug Development is uniquely established to FDA safety assessments, post-marketing needs, and Pharmacovigilance efforts to help assure the sustained capability of the expert category.

Benefits of Generic Drugs:-

 

Patients Can Save Serious Money with Generic

How can this be? As per the FDA, generic drugs can cost are estimated about 85% less expensive than medicines designed to counterfeit. The studies show that branded drugs don’t have to be repeated with their bioequivalent generic replacement, assisting in cutting their cost dramatically.

Generic Drugs Can Be Just as Effective as alternate Branded drugs.

Generic drugs offered by a reputed generic medicine supplier are an efficacious and FDA-approved option for patients. Such medicines are identical to their brand-name equivalent in numerous categories, including dosage, strength, form, safety, quality, intended use, and performance properties. Thus, the generic drug is considered to be bioequivalent.

Patients Can Easily Find a Generic Equivalent

Patients do not want to investigate far to see alternatives to many popular branded drugs. There are many common medications with high-quality generic equivalents, as above 12,000 generic drugs are readily available to customers. For example, the allergy medication named Allegra can be exchanged with Fexofenadine. Warfarin can replace another famous blood-thinning drug called Coumadinrin.

Generic Drugs Help can Reduce Costs in the U.S. Health Care System

It is not only patients who benefit from high-quality generic drugs. Association for Approachable Medicines shared that in the past 10 years, the savings for the U.S. healthcare system from generic drugs is around $1.67 trillion.

As healthcare expenditures continue to increase, it is essential to contact the best generic pharmaceutical manufacturers for alternatives and make them readily available to patients. This may slow down the increase in health care expenses often passed along to patients.

Stay the Course with Generics

Patients are 3x times more likely to abandon branded prescriptions than their generic alternatives, and this abandonment is often directly related to high copays.

Generic drugs are an easy and affordable alternative for treating several people who have to take prescription drugs. They can increase the probability that patients follow through with doctor-recommended care.

Contact JoinHub Pharma – the biggest generic pharmaceutical company in India for placing bulk orders of generic drugs.

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Top 5 Indian Generic Medicine Suppliers in Latin America

Top 5 Indian Generic Medicine Suppliers in Latin America
Generic Medicine

Top 5 Indian Generic Medicine Suppliers in Latin America

The demand for generic Medicine / Drugs is increasing in Latin America, and Indian pharmaceutical companies realize this opportunity’s great potential. Efficient and affordable medicines are always required, making this a flourishing market for drugmakers.

The worldwide generic drugs market is forecasted to increase at a compound annual growth rate (CAGR) of 8.7%, meaning that, in the projection period 2016 to 2021, the worldwide market will rise from almost $352 billion to $533 billion.

In this article, the top five Indian generic pharmaceuticals suppliers, manufacturers and distributors are listed:

JoinHub Pharma

JoinHub Pharma is an award-winning Pharmaceutical Company in India. We hold a reputed name with regards to branded medicines and generic medicines. Our company is certified by the highest authority like WHO, FDA, ISO 9001:2008, GMP, etc. We are a top generic pharma manufacturer, supplier, and distributor in Latin America and are known for our top-of-the-line quality pharma products and services. Without a doubt, we are considered to be one of the best generic pharmaceutical companies in India.

In fact, 85% of our revenue is generated by way of exporting to MIDDLE EAST, CIS, and AFRICA production facilities. We are famous for our widest list of medicines which contains more than 1000+ pharma products.

Based in India, JoinHub Pharma is a generic pharma company in India with a broad footprint covering the US, Europe, South-East Asia, Middle East, and South Africa. It manufactures more than 200 generic drugs and complex APIs in a wide range of therapeutic areas, including cardiovascular, diabetes, HIV, oncology, infectious diseases, hepatitis, ophthalmology, urology, neurosciences, respiratory, and women’s health.

Dr. Reddy

The global generics segment of Dr. Reddy’s accounted for approximately 80% of the company’s revenue in 2018, with North America being the biggest contributor.

As of March 2018, the company filed 20 abbreviated new drug applications (ANDAs) and had 110 generic filings pending approval with the US FDA. Moreover, it launched five first-generic-to-launch (FGTL) products in Brazil.

Based in India, Dr. Reddy’s is an Indian pharmaceutical company whose generic formulations business offers more than 200 high-quality generic medicines worldwide, with over 20 assets falling under the complex generics category, including decitabine, fondaparinux, and azacitidine injections.

The company’s generic formulations segment includes tablets, capsules, injectables, and topical creams. Nise (Nimesulide), Stamlo (Amlodipine Besylate), Omez (Omeprazole), and Razo (Rabeprazole) are a couple of its products available in Latin America’s emerging markets.

Teva Pharmaceutical

Teva Pharmaceuticals’ 2018 revenues in North America decreased by 22% as compared to 2017 because of the price erosion and volume reductions. They have launched generic versions of medicines such as Solodyn®, Aloxi®, Syprine®, Estrace®, Lialda®, Uceris®, and Elidel® in the region in 2018.

The company’s European revenues increased by 4% to $3.6bn, compared to 2017. The revenue growth resulted from an increase in OTC medicine sales and the launch of new pharma products, which offset the impact of price cuts of generics in the first half of 2018. However, the overall revenue was affected marginally in the second half of 2018 because of the dismissal of Teva’s joint venture with PGT Healthcare.

Teva Pharmaceuticals offers diverse products in various segments such as specialty, generic, OTC, and APIs.

Cipla

Cipla’s revenues progressed marginally compared to the earlier year, with the generics business in Latin America contributing around 21% to the domestic business revenues as of March 2018.

The company was ranked as one of the top ten generic Pharma manufacturers in the US, with 13 out of 52 products ranked as number one, according to IQVIA IMS RQTR as of March 2018.

Cipla is working to develop complex generic formulations based on nanotechnology for the US market.

Lupin

Lupin’s generics business held 90% of the company’s total revenues in the US in 2018. It was established in 1968, and while its primary focus is generic drugs, it additionally produces branded medicines and API (active pharmaceutical ingredients).

Lupin filed 20 generic products in many geographic regions worldwide, which includes the APAC (Japan & Australia), Canada, EMEA (Europe, Middle East, and Africa), and Latin America (Brazil & Mexico), and got 22 approvals in 2018.

Lupin also got 24 ANDA approvals out of 36 ANDA files in the US in 2018.

Lupin is a pharma company based in India with many segments, including generic products, biotechnology products, complex generics, APIs, and specialty.

If you’re looking for generic medicines at an affordable rate, contact JoinHub Pharma – a leading generic pharma company in India.

Simply drop them an email at [email protected] or call directly on +91 97247 25604.

 

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