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Research Article: Blockchain Adoption for Generic Drugs in the Medicine Supply Chain with Consumers’ Risk-Aversion: A Game-Theoretic Model Within Chinese Legal Framework

Date Published: 2024-01-04

Abstract:
Generic drugs are medicinal products that have the same active ingredients as drugs that were originally protected by chemical patents. Generic drugs can be trusted to have the same quality as original drugs, according to the US Food and Drug Administration (FDA), as they require generic drugs to be identical to original drugs concerning pharmacokinetic and pharmacodynamic properties. Also, generic drugs generally have cheaper prices because they are allowed for sale after the patents on the original drugs expire. The global generic drug market size was valued at . billion dollars in and is projected to hit around . billion dollars by , expanding at a CAGR of .% over the projection period from to . In medicine supply chains, many large-scale drug retailers procure a variety of generic drugs from manufacturers such as Teva and Viatris, and then resell them to consumers. For example, online pharmacy AidAccess began selling generic abortion drugs to all US states in . Similar examples can be found in Pharmacy Direct, Amazon Pharmacy, and Rx Outreach.

Introduction:
Generic drugs are medicinal products that have the same active ingredients as drugs that were originally protected by chemical patents. Generic drugs can be trusted to have the same quality as original drugs, according to the US Food and Drug Administration (FDA), as they require generic drugs to be identical to original drugs concerning pharmacokinetic and pharmacodynamic properties. Also, generic drugs generally have cheaper prices because they are allowed for sale after the patents on the original drugs expire.…

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