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What is Generic Medicine?
Generic drugs follows international standard that is why they are not less effective than the branded medicines. Dosage of generic drugs, their side-effects are all like branded medicines.
Generic medicine has the same ingredients as the branded medicines. These medicines are according to the 'Essential Drug criteria’ set by the World Health Organization (WHO).
Generic drugs are required to obtain permission and licenses from the concerned authorities before entering the market, as it is necessary for branded medicines. Generic drugs also have to go through all the quality checking processes like branded medicine.

According to the World Health Organization, if doctors prescribe generic medicines, then health expenditure can be reduced by 70% in developed countries and developing countries. Generic drugs consumption is only 10-12% of the total drug market. Greedy attitude of the drug manufacturer companies, medical stores and doctors don't want to spread the market of generic drugs. In today’s world almost all type of generic drugs are available at the price lower than the branded medicines. These cheap generic drugs can be boon for the poor people.

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From BnW to Colour TVs to LCD/LED to Smart TVs- the evolution of the television has been quite a journey! But did you know that Videocon was the first company to launch colour TVs in India in 1982? Without Videocon’s colour TVs, modern-day android TVs would have been a distant dream for us.

Anyway, this company is shutting down soon as it was dragged to the NCLT for insolvency proceedings in 2018. And so, it becomes imperative for us to look at how a pioneer of this amazing invention is approaching its doomsday.

About Videocon Pvt. Ltd

Videocon Industries was founded in 1979 by Venugopal Dhoot with its headquarters in Mumbai. It initially started dealing in consumer electronics and home appliances such as mobile phones, colour TVs, air conditioners. After becoming a popular brand in these sectors, they became a conglomerate and diversified their business in Oil and Gas, Telecom, and DTH Services.

Beginning of the End

The downfall of Videocon derives its traces from a time when there was an immense capital requirement in the television and allied sectors, but the returns were not adequate to control the debt. So, it made business sense for Videocon to diversify into unexplored territories. This diversification led to aggressive borrowings for the company, which led them into a debt trap in a span of 10 years.

Despite becoming a conglomerate, only the consumer electronics segment of Videocon could sail its boat forward. But, even their life-saver started to deteriorate with time due to increased competition and saturation in this market.

Hence, the company then tried to control their debts by divesting their business. They merged their DTH Services with Dish TV. They even sold their gas fields. Airtel acquired their telecom business. But, it was all too late to have any effect.

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