Differences Between Brand Name and Generic Medication

The difference between generic and brand name medication is the name and price. Generic and brand name products contain the same active ingredients. Generic medication may cost between 20 to 60 percent less than the cost of the brand name medication. The reason why generic medication have a different name is because when getting generic medication they are using the chemical name, and brand name medicine is the name that is assigned by the manufacturer. There are many new medications that come to the market every year, but that does not always mean that the new medication that is out on the market is equate to better. In many cases generics remain first line and the medication of choice. Also, generic medicine also have a longer safety record than newer medications. Another thing to keep in mind is that price does not reflect the quality of the medicine, like between generic or brand name medicine. Since generic medications generally sell for less than brand name medications, they are falsely considered inferior to their brand name counterparts.

Not all brand name medicine have generic equivalents. Some medications are protected by patent and are manufactured by only one company. Generic versions are available only after the patent expires which is appropriately in 20 years, and often at a lower price. Occasionally the original manufacturer of the brand name medication launches legal challenges at the end of the patent, trying to block generic versions and extend the patent life of the brand name. The current estimate suggests that about half the medicine on the market are available in a generic form.

FDA reviews and approves generics for market the same way they do for brand name medication. It must be generically and therapeutically equivalent to the brand name counterpart. Which means that they should have the same active ingredients, strength, and dosage form like tablets, liquid, injection etc. and, it should meet FDA specifications for quality, purity and potency for the approved indications and conditions of use. Generics and brand names may differ, like in some cases they might have different characteristics like color, flavor, size and shape.

Anyone can get generic medication, you just need to speak to your doctor who is going to prescribe the medication to you. The way you can tell which medicine in a generic or a brand name is that, generic medications are bolded with lower case letters, whereas, brand name medications start with a capital letter and have a ® at the back.

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