Learn about generics
To understand generics, you first need a little information about brand name drugs.
Before a company starts selling a brand name drug it has developed, the company gets a patent for the drug. That means for a specific period, the company has the sole right to sell the drug. Other companies can produce the drug and sell it under the medication’s generic name only after the patent expires.
Generic manufacturers must get approval from the Food and Drug Administration (FDA) for their medications. To get FDA approval, generics must contain the same active ingredients as the brand name forms and meet the same strict standards of quality, strength, and purity.
Only inactive ingredients differ
The only differences between brand name drugs and their generic equivalents are the inactive ingredients, such as dyes, which may affect the drug’s appearance but not its effectiveness. In rare cases, some individuals develop an allergic reaction to these inactive ingredients.
Generics lower costs
Generics cost less than brand name drugs because generic manufacturers do not have to pay for the drugs’ initial development costs. In addition, once generic drugs are approved, the increased competition keeps prices down. |
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