One of the consequences of the economic reforms in Nigeria in the last year is the high and rising cost of drugs. Most of the drug prescriptions for patients are the form of brand-name drugs. These drugs have been priced out of the reach of most individuals and families in Nigeria.
People suffering from life-threatening illnesses have died because they are unable to cope with the cost of these brand-name drugs. If you are one of those struggling to cope with the high and rising cost of drugs, this blog post proffers one solution in the form of generic drugs.
What is a generic drug?
Generic drugs are the same as brand-name drugs in terms of composition, quality, dosage, and performance. One major difference from brand-name drugs is that they are much cheaper. Generic drugs can save you up to 70-80% or more compared to brand-name drugs. This is not because they are of lower quality. They undergo the same level of rigorous testing and approval by regulatory agencies to ensure their safety and effectiveness.
You may then be wondering why they are much cheaper than brand-name drugs. One of the main reasons is that after a specified number of years, the original manufacturer of a particular brand-name drug is assumed to have recouped the cost of many years of research and development and marketing of the drug, opening the way for other manufacturers to produce the same drug without the high expenditure on research and development. The much lower cost for these manufacturers means that they can therefore sell the drugs to consumers at a much more cheaper and affordable cost.
Misconceptions about generic drugs
Despite the clear benefits of generic drugs, they are not as widely used as brand-name drugs. Misconceptions about their efficacy and safety are one of the major reasons. This has sometimes been fueled by the influence of health providers and low level of education in the society. Under this circumstance, generic drugs are perceived as inferior to brand-name drugs.
Conclusion
In conclusion, generic drugs offer a viable solution to addressing the challenge being faced by patients as a result of the high and escalating cost of drugs in Nigeria. It is important however for patients to liase with their doctor or pharmacist in making an informed decision on the use of a generic drug as an alternative to a particular brand-name medication.
