Generics are identical copies of well-known pharmaceutical drugs whose patents have expired.
When a company develops a pharmaceutical drug, it applies for patents protecting the product. From the date of filing, a patent grants the company 20-25 years of exclusivity to market and sell the product. In practice, this often gives the originator company a market monopoly for 15 years or longer, since patents are filed up to 10 years before the product reaches the market. It is very costly to develop new pharmaceutical drugs and consequently the prices are often high during the patent protected period to allow the originator a good return on its investments and continue to develop new drugs.
When the patent expires, other companies can develop identical copies of the product, so called generics. After obtaining marketing approval from the Medical Products Agency in the country in question they can market and sell the generic drug. This increased market competition leads to lower drug prices, making the products more affordable and providing huge cost reduction for society. In several countries there are generic substitution laws that regulate that pharmacies have to substitute the drug on a doctors prescription to the least expensive generic version available. This ensures that society minimizes its costs for prescription drugs.
The quality and safety of the medicines EQL Pharma markets is paramount. All our products are subject to the same stringent rules regarding quality and safety as the original products. Our products are tested in clinical studies in healthy volunteers, to guarantee bioequivalence between the same dose of the original drug and EQL Pharmas product, ensuring therapeutic equivalent to the original branded product.
EQL Pharma have the same responsibilities as the original drug company to answer medical questions, report side-effects and provide up to date patient information, for example through our homepages and the package inserts.