Objectives: US consumers spend more than $20 billion/year on overthe-counter (OTC) drugs. Althoug... more Objectives: US consumers spend more than $20 billion/year on overthe-counter (OTC) drugs. Although generic and brand name OTC drugs share the same active ingredients and undergo the same rigorous Food and Drug Administration approval process, brand name formulations continue to lead the OTC drug market with a higher market share. There is a limited amount of publicly available information regarding consumer perceptions and awareness about generic and brand name OTC drugs. The main objective of this research was to understand what factors influence US consumers to purchase generic versus brand name OTC drugs.
Objectives: US consumers spend more than $20 billion/year on overthe-counter (OTC) drugs. Althoug... more Objectives: US consumers spend more than $20 billion/year on overthe-counter (OTC) drugs. Although generic and brand name OTC drugs share the same active ingredients and undergo the same rigorous Food and Drug Administration approval process, brand name formulations continue to lead the OTC drug market with a higher market share. There is a limited amount of publicly available information regarding consumer perceptions and awareness about generic and brand name OTC drugs. The main objective of this research was to understand what factors influence US consumers to purchase generic versus brand name OTC drugs.
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