A Global Comparison Between Brand-Name and Generic Drugs
Authors: Karan Chawla, Taraneh Tofighi, Arnav Agarwal, Jason Thomas, Tapas Mondal
Indian Journal of Pharmacy Practice, Vol. 7, Issue 3, pp. 23-28, (2014)
DOI: 10.5530/ijopp.7.3.6
Abstract
While the use of cheaper bioequivalent generic drugs over brand-name drugs has been widely discussed in literature, their market pricing and subsequent use is largely shaped by government policy-making as well as consumer and corporate decision-making. Analysis of literature shows that drug development and testing costs, degree of health care privatization, and pharmaceutical reimbursement all impact the profitability of brand-name drugs within and beyond their patent period. Furthermore, jurisdiction-specific government controls and policies influence the affordability and accessibility of both drug variants. This literature review focuses on: a) analyzing the policies and expenses associated with gaining approval for brand-name and generic drugs, and their subsequent influence on drug pricing; and b) comparing and contrasting government controls and policies between Canada, the United States, European nations, and developing countries.
Keywords: brand-name drugs, generic drugs, health policy, drug pricing, global comparison
