Difference between Generic medicine and standard / Branded medicine. | Medcinfo

 Difference among Generic remedy and Standard/ Branded medicinal drug.💊⚕️

Medical knowledge

        INTRODUCTION

              :- Let's see the different between the two types of medicines which are available in near hospitals and medical stores, we can get from there easily

         There are two types of medicine

A.  Generic medicine

B.  Standard/ Branded medicine

  A. Generic Medicine:- 

      A general remedy that capsules with evaluation to standard or branded drug with admire to their energy effect is dosage form and a totally vital is its impact of drug to our body.

      Generic medicine must should obtain by food and drug administration {FDA} approval for prescription and consumption of medicine

  Generic medicine is cheaper than branded for standard medicine

  Generic medicines can take without doctors prescription, just you can ask to registered medicine practitioners

   The generic medicine we can get up to 80% discount 

         

Generic medicines 

          

       Generic Medicine having.  Rs 25 , Standard Branded medicine having Rs 100

        

B. Standard/ Branded medicine :-

       Standard /branded drugs is the original product that has developed by the pharmaceutical companies it is known as standard medicine or drugs

    It have sole right to manufacture and distribution for a period (patent).  

       Name of branded medicine has two marketing or distributed easily,

A branded medicine prescribed by the doctors to his patients

.  companies making copies and selling the drug of branded medicine

  Generic medicine and standard drugs to make it stand out in the market.   

A branded drug we can get up to 20 to 30% discount on any medicine

    

Branded drugs/medicine

       Some extra-ordinary doctors, we can say which comes from any AIIMS hospital he always Uses or always prescription of branded or Standard Medicines

    He knows, but he would like big amounts of money from the patient.

    Especially, there are no big difference in their colour, effects, and dosage , but big difference in their big amounts means Indian Rupees.

Generic Medicine Franchise

     Generic medicine franchise

China is the world's second-largest market in generic medicine. The value of sales of pharmaceutical and healthcare products in China were RMB 1,596.2 billion (approximately $232.6 billion) in 2017.1

Generic medicine franchise

Domestic-brand generic drugs

China had to import more than 90 percent of its pharmaceutical raw materials in 2016.2

With its strong economic growth, China's pharmaceuticals market grew at a rate.

How to open Generic medicine store

Generic medicines Store

   There are easy to open generic medicine store,The top court asked the pharma companies to ensure that a no objection certificate is not granted if a person wants to buy medicine in generic form. The top court also asked the companies to furnish details of all “without licence” medicines in country. It also asked the companies to declare the profits they have made since 2012.

"These kind of medicines are not cheaper than the original brands. They just cost lesser," said the bench.

The court told these companies to also furnish the details of the number of medicines on sale in a year. "You are selling so many cheap medicines. How many have been sold in the country in the last five years? What is your profit after deducting your cost from it?" .

  Master Franchise opportunities in India

    Generic medicines franchise opportunities ,But there is one catch to the possible brand-new deal that needs to be taken in consideration. According to the recent FDA's strategic plan, the regulator is expected to lower the approval process for generic drugs. So, those companies who are looking to launch affordable generic drugs for their customers could face some hurdles.

Even so, these low-cost generic drugs can still be pretty beneficial for businesses as long as they have the best marketing strategies. So, if your company is interested in gaining business by introducing affordable generic medicines to your consumers, do not forget to consider these potential brand-new benefits of entering a generic medicines franchise.

A brand-new source of revenue

At a time when most manufacturers are trying to reduce their operating costs and shed unprofitable lines, low-cost generic drugs could be the company's ideal choice. Moreover, considering the fact that a large number of the pharmaceutical drugs are still manufactured in developing countries, the demand for low-cost generic drugs is going to rise in the future.

In the U.S., these affordable generic medicines are not covered by medical insurance, and you can't do anything about that. But by launching a generic medicines franchise in the U.S. you will be able to reach a large market with your business idea. In a number of these countries, the affordability of generic medicines is also a big factor for the success of the business.

     Generic medicines come in many different varieties, and the consumer base can vary from one country to another. According to this unique fact, it is also possible that the generic medicines in your country might not appeal to your customers. However, that's where franchising can help.

Benefits of Generic medicine Franchise

   Benefit of generic medicine franchise model in the generic pharma industry

1. Reasons for picking the generic medicine franchise model for your brand
2. Monetary benefits
3. Costs
4. Time
5. Revenue generation model of generic medicine
6. Chapter 2 : Is the company having a good brand portfolio in its hands
7. Profitability of generic medicines franchise model
8. For a pharmaceutical company, it is of great significance to have a good brand portfolio. A good brand portfolio helps a company in raising its market share in the pharmaceutical industry. A strong brand portfolio increases the value of the brand. For example, the market share of brand X in a particular segment may decrease if the price of brand X goes down. In some cases, the brand may even lose its position in the market. In such cases, the market leader or the company having the largest market share may feel that it has been pushed to a disadvantageous position and may have to adjust its product price in order to protect its brand. This adjustment of price may cause an additional loss to the company. Thus, it is essential for the company to choose a brand portfolio which will not cost much and which will be able to generate revenue and create value for the company. In a franchise model of generic medicine, the company does not have to invest in the marketing of the brand and it can generate a large revenue through the royalty earned. A royalty is given.

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