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Though the names are different, generic and brand-name drugs work the same. According to the FDA, generic drugs are just as effective as their branded counterparts. Generic name drugs typically cost about 80% to 85% less than branded drugs.
Wondering about generic vs brand-name drugs? We explain the differences, Medicare and other insurance coverage, and how to know which is best for you.
When a drug is approved by the Food and Drug Administration (FDA—the U.S. government agency responsible for ensuring that drugs marketed in the United States are safe and effective), it is given a. Generic (official) name. Brand (proprietary, trademark, or trade) name.
Confused about generic vs. brand-name drugs? Discover key differences in price, ingredients, and effectiveness. Learn how to make informed choices for your health and wallet.
In the United States, trademark laws do not allow generic drugs to look exactly like the brand name drug. However, the generic drug must have the same active ingredients. Colors, flavors, and certain other inactive ingredients may be different but the effectiveness of the drug remains the same.
What is the difference between brand-name and generic drugs? Fast facts. Price. Approval standards. Availability. Which is better? How to choose. Summary. Generic drugs contain the same...
The generic medicine name is the one doctors are trained to use. There are sometimes many brand (trade) names for one medicine. Possible confusion or mistakes are reduced if all doctors use the same names when talking about and prescribing medicines. Generic medicines are often cheaper for the NHS.
A generic drug may look different in shape, size, and color from relevant brand name drug. While a brand name drug has a unique look as design during product development. In the United States, trademark laws do not allow a generic drug to look exactly identical to other existing drugs on the market.
Another important distinction lies in their names: while the brand name is specific to the pharmaceutical company that developed the drug, the generic name represents the drug’s active ingredient. There may be several brand names for the same drug, but only one generic name.
A generic drug is a medication with the exact same active ingredient as the brand-name drug, is taken the same way and offers the same effect. They do not need to contain the same inactive ingredients as the name-brand product and they can only be sold after the brand-name drug’s patent expires. 2