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Generics have captured the market of the branded drugs because of their best quality and the reasonable prices. In all over the world, generic are now holding the share of about 61% in the pharmacy market. Before a decade, generic drugs were having only a share of 10% in the pharmacy market. But, it was after the discovery of the generic version of Viagra that revolutionized the pharmacy market and made the customer to believe in the generic drugs. Generic Viagra was the first generic drug that was accepted by the customers as the treatment of the erectile dysfunction. Many generic drugs were there in the market but, they were not purchased by the customers because of the wrong publicity of the generic drugs that was done by the branded drug companies. The myth that “generic drugs are of inferior quality and may cause severe harm to the health” was spread by the branded drug companies for maintaining their position in the market. But, generic Viagra made a breakthrough and became a more selling drug than its original counterpart.

In United States, the sale of generic drugs is now improved considerably in the last 2 years because of the consistent effort of the US govt. in promoting the use of the generic drugs. The US govt. has even reduced the taxes on the generic drugs so that the basic medicines are available to the people at the lowest possible costs. Even the campaigns are carried out throughout the US in order to promote the use of the generic drugs. These all things have contributed considerably in increasing the sale of the generic drugs. The most important reason why generic drugs are able to capture the market is the low pricing of the generic drugs. The main reason why the generic drugs are available for the very low cost was that the no investment was done in the research of the generic drugs as the generic drug manufacturer has to follow the same formulation of the branded drug manufacturer. Thus, the considerable amount of money is saved here.

Generic drugs because of the low price do the annual saving of 6 billion euros that accounts into the profits made by the generic drug manufacturers and insurers. Customers also prefer generic drugs because of very low prices in comparison to the original branded drug and same in effectiveness like the original drug. Even the government in the European nations and European Drug Agency, noted that the existence of a large market for generics is necessary because of the increasing customer demands. Previously, generic drugs were not at all purchased by the customers in European nations. But, due to continuous efforts put by the European Unions and generic drug manufacturer, last year there was tremendous change in the pharmacy market. Generic drugs started selling more than the branded drugs. Generic drugs have captured 54% of the market in the European pharmacy market.

Generic drugs are the adaptation of the branded drugs that are manufactured following the same standard guidelines but are manufactured in developing countries so are very cheap and affordable for the individuals staying in developed countries. Generic Drugs are in demand all over the world. Generic drugs are defined as the drugs, which has the similar properties and effects as their brand-name drugs whose patent is expired. Generic drugs are the pharmacologically similar to the brand name drugs. The active constituent of the generic drug and the original branded drug is same and in equal concentration.

The real turnover came in the generic drug when the first generic drug’s approval by the Food and Drug Administration in United States. This year has already recorded the buyouts of $25.1 billion of generic drugs in the pharmaceutical industry. Generic drug industry holds the 57% of the pharmaceutical market and is expected to capture the 76% of the pharmaceutical market by 2015. Thus, it is quite sure than in the next decade generic drugs will be the only medicines available to the customers.