Spreading happiness with generic medicines
India is the 11th largest pharma market in the world and set to rise to the 9th position by 2022. However, Global Healthcare Access and Quality (HAQ) Index tells a different story. In its 2016 index report, India ranked 145th among 195 countries, scoring poorer than many underdeveloped nations.
How can a pharma market as gigantic as India perform so poorly on Healthcare Access and Quality Index? There can be many factors responsible for this. However, the major one has been observed to be the high prices of medicines and people’s inability to afford them. With an unprecedented transformation in healthcare during the last century, prescription drugs have taken the global markets by storm. While these branded medicines helped in wiping out many diseases and improving human life expectancy, their prices have been a big issue.
On one side, there are pharma companies advocating for high prices in order to recover the staggering amounts of funds spent by them on the research and development of these drugs. On the other side, there are government and public welfare organizations campaigning against the high prices of medicines, even after the expiry period of the patent leased to the brands. Especially in a country like India, where the concept of medical insurance is yet to gain popularity, pricing of branded medicines is a serious concern. According to a recent research, approximately 70% of Indians pay for healthcare expenses out of their own pocket as either they don’t have a medical insurance or their medical insurance doesn’t cover medicines’ cost. What happens when a large portion of these 70% Indians can’t afford a lifesaving drug? An alarming question worth a national debate.
The only solution that seems feasible, as well as practical, is the promotion of fairly priced generic medicines.
What are generic medicines?
Generic medicines are medicines that are identical to branded drugs in terms of active ingredient, dosage form, strength, route of administration, quality, performance and characteristics. Generic medicines are 30-90% cheaper than branded medicines as their manufacturers don’t need to bear heavy costs of R&D, clinical trials and other approvals, marketing, advertising, etc. However, generic drugs undergo the same quality tests and FDA certification as branded drugs.
Benefits of generic medicines
· 30-90% lesser prices than branded medicines
· Quality assurance as these are FDA certified
· Bioequivalent with branded drugs
StayHappi – A generic medicine pharmacy like no other
StayHappi is not just a pharmacy but the name of a revolution, making quality medicines accessible to every stratum of India at affordable rates. In order to provide maximum value at minimum prices to its customers, StayHappi Pharmacy has partnered with India’s leading pharmaceutical manufacturing firms that deal in a wide range of medicines and medical products (allopathic, Ayurvedic, cosmetics, dermatology, nutraceuticals and wellness products). All of its partners maintain the highest quality standards, and have been audited and certified by multiple internationally recognized regulating authorities like US FDA, WHO GMP, USNSF, NABL, PICS, ISO 9001-2008 and ISO 14001-2005, to name a few. So far, StayHappi has opened its franchises in Delhi, Mumbai, Haridwar, and other metro and tier-2 cities. StayHappi Pharmacy – Because medicines shouldn’t cost a fortune.