Sam Zhogbi one of Toronto’s friendly pharmacists recently presented some information on generic medicines to inform and allay any concerns about these low cost, health system supportive options.
Generic medicines are copies of the original brand of medication that is no longer protected by patent. They have the same active ingredients and therapeutic effects on the body, are the same quality and strength and have had the same safety testing.
When a new pharmaceutical is developed the drug companies patent it to protect their intellectual property and profits. These patents last for 20 years. We are now in a period where patents are reaching the end of their exclusivity period and generic brands are coming on to the market to get some of the market share. Many drug companies even put out their own range of generics so they don’t lose sales.
There is another aspect to generic medicines though, their relationship to the Pharmaceutical Benefits Scheme (PBS), Australia’s unique subsidy scheme which makes many medicines affordable for many more people. Generic brands contribute more to the PBS fund, which subsidises new product research and release.
Other good things about generic medicines are they usually have some proportion of their manufacturing done in Australia, assisting local jobs, they save the consumer money because they’re cheaper, they provide choice, and are an investment in the health care system.
Unless a doctor specifically marks a script with no substitution, generics are an option that is just as good for your body and even better for our health system. If you want to know more have a chat to Sam at Simply Pharmacy.
