US Branded Generics Market valued at $19.1 billion in 2022, is anticipated to witness a CAGR of ~9-10% by 2027
Branded generics are generic drugs that are given a proprietary market name. It can be developed either by a generic drug company or by the original manufacturer and can be marketed after the patent expiry of the original drug. They are sold by using a brand name instead of a chemical name. An abbreviated new drug application (ANDA) is submitted to the regulatory body for marketing and promoting branded generics and it should be therapeutically equivalent to the original drug for which the patent is expired. Multiple Advantages Offered by Branded Generics Drives its Adoption in US Branded Generics Market Due to the several advantages offered by branded generics, their adoption is expected to grow rapidly in United States. Following are some of the key advantages:- • Sold as alternatives to brand-name drugs and are relatively less costly. • For combination drugs, it is tough to remember their generic names. Branded generics can be easily remembered. • Attract ,many consumers who pr...