Generally, brand-name drugs are better for prescriptions than generic drugs. This is because of their quality. This concept is not disputed because if both types of drugs were priced equally, many people would go for the brand name each time. However, in the real sense, they are not priced equally. So many people have based their decisions on the quality against the amount of savings if they opted for generic drugs (Haas et al., 2005).
While comparing the prices of the brand and generic drugs from various stores, it is evident that the prices of brand name drugs will not go down anytime (US Food and Drug Administration, 2009). Research from Walgreens, Target, and Kmart pharmacies concluded that the price for brand name products is much higher than that of the generic drugs. In this c
...ase, I have used Advil, which is a brand name for a known pain killer. The generic drug for this brand comes in the form of ibuprofen. The price of 200mg of Advil with a count of one hundred liquid gel capsules is sold at 8.99 dollars at Walgreen pharmacy, the same drug with an equal quantity of tablets and weight is sold at 10.99 dollars at Target pharmacy and 8.99 dollars at Kmart pharmacy (Rizzo & Zeckhauser, 2009). This indicates that Kmart, an associate grocery store pharmacy sells this brand name drug at a slightly higher price than Walgreen and Target pharmacies. In a similar case, the price of 200mg ibuprofen with one hundred tablets sells at 6.99 dollars a Walgreen, while the same quantity sells at 5.29 dollars at Target and 6.39 dollars at Kmart pharmacy. Walgreen and Kmar
sell the generic product at a slightly higher price that targets pharmacy. Therefore, this evidence indicates that most of the leading online pharmacies in the states sell generic drugs at a lower price that brand name drugs.
References
- Haas, J. S., Phillips, K. A., Gerstenberger, E. P., & Seger, A. C. (2005). Potential savings from substituting generic drugs for brand-name drugs: medical expenditure panel survey, 1997–2000. Annals of internal medicine,142(11), 891-897.
- US Food and Drug Administration. (2009). Facts about generic drugs.Retrieved January, 8, 2010. Generic script share and the price of brand-name drugs: the role of consumer choice. International journal of health care finance and economics, 9(3), 291-316.
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