What is a generic drug? Generic drugs are safe, effective, and affordable. If it weren't for generic drugs many people couldn't afford their prescriptions. "A generic drug is just about an identical prescription...
"A generic drug is just about an identical prescription of its original name brand drug, but costs a lot less," states Cindy J. Holtzman, Director of Operations at Medical Billing Advocates of America (MBAA). Generic prescriptions have the same active ingredients but may have slightly different inactive ingredients than their name brand equivalent. Ever notice how when you switch from a name brand medication to the generic version, the pill may look slightly different? A generic drug is required to look different because of trademark laws. Trademark laws affect any product that is a "knock off" of a patented product. Though, the only difference in a generic drug verses the name brand version would be found in the inactive ingredients. A generic drug has the same benefits and also the same risks as the name brand drug it is copied from.
It is rare for the inactive ingredients in a generic drug to affect its benefits or risks. However, occasionally it does happen. For example, a person could be allergic to one of the inactive ingredients such as the dye used to turn the pill a certain color, which would cause an unforeseen side effect. If the brand name uses a different dye then the benefits of the medication could be manifested without the side effect. There are numerous incidences, almost entirely minor in nature; of these slight differences causing a problem but keep in mind that these instances are the exception. Generic drugs must pass strict FDA regulations in order to be released to the market. It is required for generic drugs to be thoroughly tested no different from their name brand predecessor. It has to be proven that the generic is equivalent in not only the benefits it provides but also that it is just as safe before the FDA will approve a generic drug.
Generic drugs are a way for drug manufacturers to earn more revenue. When a new drug is introduced to the market it has a 20-year patent that prevents other drug manufacturers to create a "knock off" with the same formulation of active ingredients. Once those 20 years have passed, other drug manufacturers can copy that formulation without breaking any laws (though trademark laws still apply). This is a good way to ride on the coat tails of another manufacturer's success. By then, the market is well established, so finding customers is easy. All they have to do is inform medical insurance companies of their less expensive version of that same medication and the medical insurance companies switch the patients to the generic drug (sometimes without their consent, but it's often well received since it costs the patient less money too). That instant customer base makes producing generic drugs a good business venture for drug manufacturers.
Generic drugs are safe, effective, and affordable. If it weren't for generic drugs many people couldn't afford their prescriptions. People have benefited well from generics, both as patients and consumers. With generic drugs you can take care of your medical needs without causing your finances poor health.
