Generic drugs are, without a doubt, cheaper than their brand-name counterparts. But are they the same? In most cases, they are basically identical, but this knowledge doesn’t stop many consumers from spending much more on brand-name drugs. If you’re hesitant about saving money by going generic, here are some facts that you might want to know. In any case, be sure to check with you doctor when you have doubts about what the right drug for you is:
How Generics Come About
According to FDA regulations, generic drugs are require to have the “same high quality, strength, purity and stability as brand-name drugs.” These drugs can only start surfacing, however, after the patent of the brand-name drugs expire. Only then will the FDA allow other drug makers to come out with generic versions, and when this happens, they have to meet the requirements.
Why the Cost is Less
Generic drug producers can charge less for their drugs because they don’t spend as much money on advertising and marketing. They’re also not investing as heavily in research and development since they are creating a drug based on one that already exists.
Different Looks and Names
Just because a generic drug has a different appearance doesn’t mean that it’s a different drug. The generic drug still performs the same function as its brand-name counterpart. Also, in terms of the drug names being different, brand-names will typically give themselves a catchy name to help with advertising, and this name is rarely the actual name of the drug. So that’s something to bear in mind.
For more facts to clear some confusion when it comes to generic drugs, head over to SavvySugar’s Generic vs. Brand-Name Drugs: Are They Both the Same?