Latest updates you need to know about Generic Medicines

• India to mandate generic drug prescription for doctors. The National Medical Commission (NMC) of India has issued a notification mandating doctors to prescribe generic drugs instead of brand-name drugs. The new rule is set to come into effect on October 1, 2023.
• Generic drug market growing in Africa. The generic drug market in Africa is growing rapidly, as governments and patients look for ways to reduce the cost of healthcare. In 2022, the African generic drug market was valued at USD 15.6 billion, and it is expected to reach USD 26.2 billion by 2027.
• New generic drugs approved by the FDA. The FDA has approved several new generic drugs in recent months, including generic versions of the cancer drugs Herceptin and Rituxan. These approvals are expected to help patients save money on their prescription drugs.
• Generic drug manufacturers facing challenges. Generic drug manufacturers are facing a number of challenges, including rising drug prices and increasing competition from overseas manufacturers. These challenges are making it difficult for generic drug manufacturers to keep up with the demand for generic drugs.

Overall, the future of generic medicines looks bright. Generic drugs are becoming more affordable and accessible, and they are just as safe and effective as brand-name drugs. As the generic drug market continues to grow, it is likely that more people will be able to afford the medications they need.