M-18: Generic Medications: A Comparison on Drug Prices and a Cross Sectional Survey on Knowledge, Perception and Use
Poster Presenter
Cezar Ocampo Manansala
Student
Centro Escolar University Philippines
Objectives
To determine the price differences of generic medications between the US, India and the Philippines. To assess the knowledge, perception and use of the consumers in generic medications and correlate it with price differentiation to come up with a more encouraging generic environment.
Method
A cross tabulation analysis was conducted based on the top 20 dispensed prescription medication from IQVIA Institute Medicine Use and Spending in the US 2018. A descriptive, purposive cross sectional study was done to determine the general public's perception and knowledge of generic medication.
Results
Price differences and percent differences were computed. In comparing the prices of generic medications between the US and the Philippines, all of the prices were higher in the US, ranging from 31% to as high as 98%. For the US, comparing the generic prices to India, all are higher in price in the US, ranging from 69% to 100%. In comparing the generic prices between the Philippines and India, majority are higher in price in the Philippines than in India, ranging from 63% to 99%. The survey on the other hand revealed that majority of the respondents has heard about generic drugs (99.46%) and they are aware that before a generic counterpart be available in the market, the patent of the prior drug should be already deferred (49.37%). When these respondents were asked if they would choose a generic drug over a branded one, 51% responded yes but there are almost 49% who would still not prefer generic counterparts. Upon asking these respondents about the comparison of efficacy, quality and safety between generic and branded drugs, majority responded that these two are just the same as well as in possessing side effects. Almost 59% compared to 41% say they would switch to generic drugs in the management of non serious conditions. With regards to price of generic drugs, majority responded that they will switch to generic counterparts if the pharmacist offered them with a lower price compared to the branded one the physician has prescribed. However, respondents would still prefer the branded drugs if these generics have the same and or a higher price compared to the branded ones. Respondents were also asked if they currently take medication 183 responded yes. 72% who said yes says that what they are taking is generic drugs. Respondents believe that generics are effective for these non serious conditions. Majority of the respondents trust the efficacy of generic drugs (88.91%) and they have already taken these generic counterparts (87.86%).
Conclusion
The essence of this study is on how the researchers analyzed generic medications acceptability in a country based on two fundamental aspects, price competitiveness and non-price factors namely knowledge and perception among others. Based on the results, majority of the prices are significantly lower than the United States, which can be analyzed in terms of pricing strategy for pharmaceuticals to which the level of competition among different categories is important (Reddy AV et.al, 2016). Transport between countries alone cannot dictate the price increase of generic medications as this was not the case in the European union, where even though there is close proximity between countries, large differences in prices exists (Wouters and Kanavos, 2017). It has been cited by studies that there are generally five indicators on the performance of generic drug policies in a country: generic availability, time delay to generic entry, number of generic competitors, generic price development and impact, generic volume market share which should be discussed in parallel with lawmakers. The survey on the other hand showed that the knowledge of the respondents are very high and that there is a favorable awareness on the existence of a lower priced counterpart to their medication. The perception and preference of the respondents also favored choosing generic medications, in terms of trust, efficacy, quality, and safety. However, there is still an almost 50-50 choice for those choosing generic drugs and those who don’t. Overall consumers trust generic counterparts and are aware with it, but still there are other factors affecting the purchase and use. Correlating the significant price difference of generic medication in the US to Philippines and India, and the positive attitude of the consumers, it can be concluded that how good a generic environment of a country is can be attributed not only on price differentiation but on other indicators as well.
