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In the United States approximately $20 billion could be saved if generics were used instead of equivalent brand name products. [ 2 ] Although pharmaceutical companies have made large investments in marketing their products, overall promotional spending has been decreasing over the last few years, and declined by 10 percent from 2009 to 2010.
Drug nomenclature is the systematic naming of drugs, especially pharmaceutical drugs.In the majority of circumstances, drugs have 3 types of names: chemical names, the most important of which is the IUPAC name; generic or nonproprietary names, the most important of which are international nonproprietary names (INNs); and trade names, which are brand names. [1]
Broadly defined as drugs that are marketed under trade names and have patents, [15] which can be a synonym of proprietary drugs in daily use. Strictly speaking, every drug with a trade name is a brand name drug, [ 16 ] such as Panadol , a GSK branded paracetamol .
Yahoo Life spoke to study authors Joseph V. Balagtas, a professor in the department of agricultural economics and Elijah Bryant, a survey research analyst of agricultural Economics at Purdue ...
The Chinese definition of "bioequivalence" entails having the test drug's geometric mean C max, AUC (0–t), and AUC (0–∞) fall into 80%–125% of the reference drug in both fasting and fed states. The reference drug should be preferably the original brand-name drug, then (if not available) an internationally-recognized generic approved by ...
For example, under a 3-tier formulary, the first tier typically includes generic drugs with the lowest cost sharing (e.g., 10% coinsurance), the second includes preferred brand-name drugs with higher cost sharing (e.g., 25%), and the third includes non-preferred brand-name drugs with the highest cost-sharing (e.g., 40%).
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name.The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands.
The process involved in product naming can take months or years to complete. Some key steps include specifying the objectives of the branding, developing the product name itself, evaluating names through target market testing and focus groups, choosing a final product name, and finally identifying it as a trademark for protection. [1]