Why Drug Manufacturers Must Focus on Differentiated Generics
Manufacturers can’t afford to be complacent when it comes to the generic drug market. They need to focus on differentiated generics to stay ahead of the competition and maintain a stronghold in this lucrative market.
What are differentiated generics? They are products that offer unique benefits compared to other generics in the same category. By offering something new and different, manufacturers can set their products apart from the competition and attract more customers.
Let’s get started.
What are Differentiated Generics?
Differentiated Generics are a new category of generic drugs that offer patients greater value than traditional generics. They are not simple copies of existing branded drugs; rather, they are improved versions that solve some of the limitations of older generic drugs. They represent a significant opportunity for drug manufacturers. To tap into this opportunity, however, manufacturers must first understand the needs of patients. Only then can they develop market products that meet these needs.
Reasons why Drug Manufacturers Focus on Differentiated Generics
- Greater efficacy
Differentiated generics are created to have greater efficacy than their non-differentiated generic counterparts. They have been shown to provide patients with better clinical outcomes and improved quality of life. A recent study showed that patients who took a differentiated generic had a 30% lower chance of hospitalization than those who took a non-differentiated generic.
They also offer drug manufacturers an opportunity to improve patient adherence and compliance with their medication regimens. Drug manufacturers can encourage patients to take their medication as prescribed and improve long-term health outcomes by providing patients with a higher quality product.
- Greater patient compliance
Differentiated generics are more likely to be taken as prescribed due to their greater efficacy. This leads to better patient outcomes and reduced costs for the healthcare system. Differentiated generics offer many benefits for both patients and drug manufacturers. With greater efficacy and reduced costs, differentiated generics are an attractive option for all parties involved. Drug manufacturers must focus on creating these drugs to stay competitive in the ever-changing marketplace.
- Reduced costs
Differentiated generics cost less than their branded counterparts due to the lower development costs. In addition, they often have a shorter development time and a faster approval process. And because they are often priced lower than branded drugs, they can help reduce costs for everyone involved.
- More convenient dosing schedules
Differentiated generics can help address this issue by providing more convenient dosing schedules. For example, extended-release formulations can be taken once daily, while immediate-release formulations must be taken multiple times. They can also offer other advantages over traditional generic drugs, such as improved bioavailability, increased safety and efficacy, and reduced side effects. In addition, they can be more cost-effective than brand-name drugs. Moreover, FDA encourages the development of differentiated generic drugs. Since differentiated generics offer a unique opportunity to provide patients with more affordable, high-quality medications, drug manufacturers can capitalize on this to improve patient outcomes with the right strategy.
- Reduced healthcare costs
Differentiated Generics can reduce healthcare costs by improving patient adherence and reducing hospitalizations or emergency room visits. In addition, the use of it may help avoid the development of resistance to treatment. The price of drugs are considerably reduced with them. According to the FDA, generic drugs available in the market may cost 80–85% less than their branded equivalents. For instance, a branded Sildenafil can cost as much as Rs 527/- per tablet while the generic Sildenafil can be bought at as low a price as Rs 50/-
Differentiated Generics are a win-win for both patients and drug manufacturers.
About ZIM Laboratories
ZIM Labs is an innovative drug delivery solution provider focusing on improving patient convenience and adherence to drug intake. We offer a range of technology-based drug delivery solutions and non-infringing proprietary manufacturing processes for the production and supply of innovative and differentiated generic pharmaceutical products to our customers globally. At ZIM Labs we provide our customers a comprehensive range of value-added solid dosage differentiated generic products in semi-finished and finished categories/formulations. These include granules, pellets (sustained, modified, extended-release), taste-masked powders, suspensions, tablets, capsules, and recently developed Oral Thin Films (OTF).