Does Generic Medicines are Cheaper than Branded Medicines: A Case Study of Antibiotic Medicines

Abstract

The paper examines that whether generic medicines are cheaper than branded medicines. It uses maximum retail price data on Antibiotic medicines to test this hypothesis. The paper uses statistical inference and hypothesis testing to examine the maximum retail prices. The result seems to suggest that generic medicines are cheaper than branded medicines. Thus, the paper seems to suggest the use of generic medicines as compared to the branded medicines, for welfare.