Why do Generic Drugs cost so much less?

Despite pharmaceutical company propaganda, generic drugs must meet the same exacting requirements the FDA demands of brand name drugs.
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Why do Generic Drugs cost so much less?

Postby The Truth Sayer! » Mon Nov 06, 2006 10:41 pm

Well… back in the 1800s there were “Giants of Industry” that built monopolies allowing them to charge whatever prices they wanted… without any competition. They became known as “Robber Barons”. “Trust Busting” and “Anti-monopoly” efforts were needed to allow our system of free enterprise to restore the economy to what many people call “Supply and Demand”.

Big drug companies of today have found that even though they are being fined Billions of dollars for illegal marketing activities... that those illegal activities earn them amazingly high profits even after the cost of paying those fines. So there is virtually no incentive to stay within the boundaries of the law.

They also spend about 50 Billion dollars a year “educating” our doctors that virtually all illness is cured with one of their “miracle” pills and blanketing us with advertising meant to push us into the doctor’s office begging for these “miracle cures” in a bottle.

Since they have a monopoly on what is in that bottle… and their ad agencies are VERY good. We actually pay hundreds of dollars a month for products of dubious value that cost almost nothing to manufacture. They threaten us that if we do not pay outrageous prices for their pills they will stop inventing new “miracle” cures for us. Their ad agencies are VERY good because most people actually believe this although it is not true.

Generic drugs are exactly the same as these brand name drugs we have been conditioned to pay so much money for. (See Why Generics are just as good as Brand Name Drugs). Unlike the brand name drugs though… they are not spending 50 Billion dollars a year teaching everyone to pay huge prices for their drugs. So in order to get you to buy IDENTICAL drugs to the name brands… they sell them at a fraction of the cost.

There is another reason the price is low. More than one company is making and selling the same drug. That wonderful thing we learned in school… “Free Enterprise” and “Supply and Demand” actually work. The generic drug companies make a legitimate profit and we pay a legitimate price. :D
The Truth Sayer!
 

Re: Why do Generic Drugs cost so much less?

Postby jimithy » Wed Aug 10, 2011 10:08 pm

updated and checked for broken links. 8/10/2011 by jimithy
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