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What are generics?
Generic medicines contain the same active ingredients as the original, brand name drugs and are therefore interchangeable with the originator product. Generics are used for the same symptoms as the original drug and are bioequivalent. They provide the same quality, safety and efficacy as the original brand name product and undergo strict audits before being licensed and given market approval by EU or national medicines authorities.
Pharmaceutical companies spend vast amounts of money on researching and developing new drugs. New drugs enjoy patent protection for at least 20 years, which gives the manufacturer the exclusive right to market and sell their drug, and to receive a very high return on their original investment in R&D. Once the patents on new drugs expire, competing drug companies can apply to manufacture the same drug as its generic equivalent. After a generic drug obtains approval, increased competition keeps the price down.
Why pay more for the same product? The availability of bio-equivalent generic drug provides consumers with increased choice along with the opportunity to save money. Cost savings will vary but can be significant for those with serious and chronic illnesses.
Patients are increasingly asking for the generic version of popular branded drugs at their local pharmacy. Generic drugs are instrumental in providing low cost choice without sacrificing quality, safety or efficacy.
Government funded national healthcare plans stand to reap huge benefits from large-scale use of generic medicines when caring for their elderly and chronically ill citizens. Using generic drugs entails substantial savings for governments, so they can maintain a high level of care despite an increasingly aging population.
The generic drug market in Europe is in a position to experience substantial market growth. Generics in some member states can account for up to 50% of all prescriptions and this is forecast to reach 60% by 2007. Pressures to contain costs on healthcare services and organisations will lead to amplified implementation of generic replacement and prescribing practices in many EU Member States. Patent expiry of leading drugs and EU enlargement are inherent in the growth and expansion of the EU generics sector to 2007.
Latest News
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Consilient Health launches Losartan
2nd March 2010
Consilient Health is proud to announce the launch of its Losartan potassium 12.5/25/50/100mg film-coated tablets and Losartan potassium/ Hydrochlorothiazide 50/12.5mg and 100/25mg film-coated tablets in blister packs of 28's.
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Consilient Health launches Levocetirizine
28th September 2009
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Consilient Health 1st to Market Again! Clopidogrel 75mg f/c Tablets
1st July 2009
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Consilient Health launches Pantoprazole
6th May 2009
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Consilient Health elected member of British Generic Manufacturers Association (BGMA)
21st January 2009
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Consilient Health launches Alventa XL (Venlafaxine)
8th December 2008
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Consilient Health launches Rawel XL (Indapamide)
22nd September 2008
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Consilient Health launches Bicalutamide
8th July 2008
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Consilient Health launches Mirtazapine Orodispersible Tablets
13th June 2008
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Consilient Health launches Perindopril
29th May 2008
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Nazdol MR Tablets - UK 1st to market success for Consilient Health!
5th March 2008
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Consilient Health launches Risperidone
10th December 2007
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Consilient Health launches Amlodipine
2nd October 2007
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Consilient Health launches Alendronic Acid
5th September 2007
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Consilient Health launches Carvedilol
5th September 2007
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Consilient Health launches Mirtazapine
24th July 2007
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Consilient Health launches Finasteride
29th May 2007
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Consilient Health launches Glimepiride
16th October 2006
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Consilient Health launches Sumatriptan
22nd May 2006
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Consilient Health launches Sertraline
9th May 2006
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Consilient Health launches Tamsulosin
13th April 2006
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Consilient Health launches Omeprazole
6th March 2006
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Consilient Health launches Lansoprazole
12th December 2005
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Consilient Health elected member of European Generics Association (EGA)
21st November 2005
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Consilient Health receives Wholesale Dealers License
19th September 2005
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Consilient Health launches Terbinafine
2nd September 2005
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Consilient Health launches Lamotrigine
26th July 2005
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Consilient Health enters UK and Dutch Market
26th July 2005
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First product release in Denmark
9th May 2005
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