JNPT to procure Generic Medicines for cost saving

Posted by Daily Shipping Times on 09-06-2017        Tweet

NAVI MUMBAI: JNPT procures medicines costing around Rs.2 to 2.5 crores per year and so far mostly branded medicines only used to be procured.  However, from the year 2016 onwards, JNPT has initiated action for procurement of generic medicines also and during the last financial year JNPT has procured 190 types of generic medicines through e-tendering system, valuing Rs. 16,58,277/- as against the cost of Rs. 40,75,966/- for the branded medicines of the same composition. Thus, JNPT has saved an amount of Rs. 24,17,739/-.

It is to point out here is that a generic drug is a pharmaceutical drug, i.e. equivalent to a branded product in doses, strength, route of administration, quality, performance and intended use.  The term may also refer to any drug marketed under its chemical name without advertising or to the chemical make of drug rather than the brand name under which the drug is sold. The cost of generic medicine will be comparatively lesser than branded medicines due to its simple packaging and no advertisement.