A Review of Pharmacoeconomics and a Discussion on Branded, Branded Generics and Generics

Abstract

Pharmacoeconomics is the emerging course which benefits Indian economy in many ways and also helps in minimizing other cost burden on the common people and make them affordable to the medicines which have equivalent therapeutic effectiveness. It can be calculated by four economic evaluation methods that are cost benefit, cost effective, cost utility and cost minimization analysis. There are many conflicts about branded and generics but in India there are other classes of drugs which are branded generics. Branded are the ones which are manufactured and marketed by innovator companies whereas generics are the ones which are sold under the name of therapeutic molecule but the other type of drugs which are branded generics are the ones which are marketed under some name or using the trade mark rather than the molecule name but after the expiry of the patent.