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THE EVOLUTION OF GENERIC MEDICINE HOW IT CAN MARKET DIFFERENT MEDICINE FOR DIFFERENT DISEASE

Harshraj Ahire, Mr.Ajay Baykar, Hema Kamalja, Mahesh Kamalja, Shekhar Baykar, Arun Pathade

The main goal in introducing generic medicines into market was to decrease prices. After the expiry of patent or marketing rights of the patented drug, generic drugs are marketed. Generic drugs are available at affordable prices with maintaining quality. These ‘Generic’ formulations balance public interest as critical disease like cancer, AIDS etc. In situations where demand for medicines exceeds supply, criminally minded people tend to profit out of crime by manufacturing and distributing counterfeit medicines as а substitute for genuine medicines (branded and generic). India’s Pharmaceutical market grew at 15.7% during December 2011. The various aspects of generic, branded and counterfeit drugs and their impact on the Indian Pharmaceutical Industry However, in addition to this effect, such policy brought about unintended changes in the industrial structure. In this work evaluate the intentional impacts as well as the unplanned impacts from the introduction of generic medicines, particularly with respect to scale and innovation. a negative impact on price indexes, which is nonetheless attenuated by sectoral regulation. a large increase in scale in favor of domestic companies, but with just a small increase in R&D expenses and innovation within those companies. Such increase in scale should be seen as a window of opportunity for sectoral industrial policies aiming at larger scale and profitability, associated with commitment to innovative investments, which is certainly a difficult policy to make. Keywords: Evolution Generic Medicines, Prices Generic medicines, Economic, Process of Generic Drug

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