10 Things You Should Know About Generic Drugs
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- Brand-name drugs are protected by patents and supplied by single companies. When the patents expire, other manufacturers may apply to the U.S.Food and Drug Administration (FDA) to produce a generic version of these drugs.
- Generic drugs are approved and regulated by the FDA. All generic drugs are put through a rigorous, multi-step approval process. From quality and performance to manufacturing and labeling, everything must meet the FDA's high standards.
- A generic drug has the same strength, quality and performance as its brand-name counterpart.
- Generic drugs must deliver the same amount of active ingredient (what makes the drug work) in the same timeframe as the brand-name drug.
- Generic drugs are equal to brand-name drugs in terms of safety and effectiveness.
- A generic drug is a copy that is the same as a brand-name drug in dosage form, how it is taken, and intended use.
- The government monitors generic drugs as carefully as it does brand-name drugs.
- In most cases, generic equivalents and generic alternatives can be safely used to treat the same condition as a brand-name drug.
- Generic medications are less expensive because generic manufacturers don't have the investment costs that the developer of a new brand-name drug has. This allows generic drug makers to sell their product at substantial discounts.
- By appropriately using more cost-effective generic medications, members can save money at the time of purchase and help control health care costs.
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