1.1 Background of the Study
The Philippine's economy has started to recover from the global economic recession of 2008-2009. High government spending to stimulate the economy has improved conditions temporarily but in turn has created a large budget gap. The Philippines has one of the highest drug prices in the world. Changes brought about by the controversial Cheaper Medicine Act have impacted the Philippines pharmaceutical market, whereby 200 drugs have seen price reductions by up to 50% since August 2009. The Philippines remains on the USTR's Ordinary Watch List in 2010.
Medicine was the science and art of healing humans. It includes a variety of health care practices evolved to maintain and restore health by the prevention and treatment of illness. Before scientific medicine, healing arts were practiced along with alchemical and ritual practices that developed out of religious and cultural traditions. Contemporary medicine applies health science, biomedical research, and medical technology to diagnose and treat injury and disease, typically through medication, surgery, or some other form of therapy. The word medicine is derived from the Latin ars medicina, meaning the art of healing. The word brand began simply as a way to tell one person's cattle from another by means of a hot iron stamp. A legally protected brand name is called a trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service.
A brand name drug was a medication sold by a pharmaceutical company under a trademark-protected name. Brand name medications can only be produced and sold by the company that holds the patent for the drug. Brand name drugs may be available by prescription or over the counter. High prices of drugs are being used as an argument for greater government role in the drugs sector through effective regulation of the drug market. The word generic has always been associated with things like bland, low-quality, risky, crappy and that country that is famous for cheap imitations of cool stuff. And with good reason, cheaper materials for the same look can result in crap quality and sometimes health risks
1.2 Statement of the problem
- The research team would answer the following question
1. Are generic drugs as safe as brand-name drugs?
2. Why are generic drugs less expensive?
3. Do generic drugs take longer to work in the body?
The main objective of our study was to compare the difference between the generic and branded drugs according to their effectiveness.
1.4Significance of the study
This study intended to benefit the following:
The objective of this study is to know how importance to he following. To the user which was more giving effectiveness medicine between the two. To the researcher to give knowledge for those who suffer in selecting what was most effectiveness that we can help in researching.
To the community the development of public awareness will arise regarding the condition of products of each company and on how this will affect the progress of the country, To the company the marketing sales of the product and how can be sure that their product is much effective even though the lower price.
1.5 Null Hypotheses
There was no significance difference between the ingredients of branded and Generic Drugs.
Review of related literature and studies
2.1 Literature review
The research team got some information that can help in our study through the pharmacist and other medicine researcher below.
2.2 Related literature
The World Health organization has documented that medicines are sold in the...
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