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Generics Pharmacy

Posted on September 22, 2011 | 1 Comment on Generics Pharmacy

Since it was introduced to the public three years ago, the generics pharmacy has extended to over 1000 outlets nationwide.  It’s just goes to show that the generics pharmacy in the country is being supported by millions and millions of people around the nation and the evidence is the ever increasing public consumer.

The Generics Pharmacy was primarily started as a family business venture in 1949, which involves in pharmacy importation and allocation. The Generic Drug law was passed sometime in the year 1989. With the main purpose is to sell generic drugs to government hospitals in a bargain basement price. It was around two decades ago  that knowledge about  generics drugs was well disseminated to the public as the consumers become more wary and price sensitive with the rising cost of healthcare and medicine.

Generic drugs are not popularly known in the past because the pharmaceuticals and the healthcare industry. In general, it lacks sufficient campaign to inform the public about generics drugs. Some pharmacist and doctors even intentionally conceal the availability of cheaper generic drugs so that the people will have no choice but to buy expensive branded medicine. In other words, they profit more at the expense of providing genuine and sincere health service to the people. Thru the Generic Act the people are now well aware about generics products.   Doctors are also required to put the generic name of their branded prescription.

Another reason for the   increase of the number of pharmacy outlets is the cheap Franchising cost which is about Php600, 000 to Php800, 000. That includes the trademark, name and logo, of the franchisor.  Following the law of free market competition, the more pharmacists, the better the services and the cheaper the price because of predatory pricing and stiff competition.

Moreover, the cheap franchise allows more outlets to be established in the rural corners of the country, making cheaper generic medicines more available and accessible to the general populace.  Branded has become more expensive because of advertising and marketing cost to make the medicine popular.  This includes television commercial newspaper advertisement, product endorsement of celebrities, commission of the sales person and other benefits of sales marketing and staff. They are more expensive not because they are more effective.  But this is due to the marketing cost.

The difference between Generic drugs and branded medicines is essentially just the name.  But they were practically the same.  It is also a misconception that the generics drugs are for poor people and branded medicines are for the rich.  It is about being smart and practical of buying similar products with similar effects but with different names, different packaging, and different prices.   Paracetamol is paracetamol regardless of its color, its package its name or its price.  People who thought otherwise are simply misled into believing that branded medicines are different and more effective.  Besides, medicines are invented to cure sickness and promote health, instead of classifying people into their socio-economic level.

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Comments:1

  1. benielda Reply
    11/11/22

    I would like to give feedback on one of your generic store in cagayan de oro city, in RN abejuela St besides bdo divisoria at Nov 22 , 2011 3:50 pm ,
    one male sales person with black glasses & fat female chinita sales person , they are unrespectful in handling their customers . im attesting to this complain cause im a victim of this BAD attitude of your employees, that will destroy the image of your company . I hope you will take immediate action on this matter. thank you very much .

    concern citizen

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