Brand Name vs Generic Drugs – You Decide
For a drug to be considered the “name brand,” it has been created by a drug company which has spent years on research, development, and clinical trials. After the drug has been formulated, it has to undergo a rigorous approval process by the FDA, which can take many years in some cases. Then there is the cost of marketing the drug. Due to all of these factors, the name brand is protected by copyright, and generic formulations cannot be marketed under the same trade name. However, the active ingredients of the name brand medication are considered public knowledge, and generic medications are essentially reverse-engineered from the original formula. Because they are chemically the same as the name brands, generic medications are also FDA approved. Generic medications are much cheaper than the original formula due to the lower costs of production.
When you are considering brand name vs generic drugs, there are some things it is important to know. Because of government regulations, there are no chemical differences in brand name vs generic drugs. The generic brands are required to contain the same active ingredients at the same dosage as the original formula in order to be sold to consumers. When you are deciding between brand name vs generic, the ingredients of the name brand and generic versions are identical.
The next thing to consider is the price. Even when you want to save money by purchasing cheap medications, you do not want to compromise on safety and quality. There is no difference in either when it comes to brand name vs generic drugs when it comes to safety and efficacy, because the active ingredients and the method of administering are the same. The only difference is that with brand name vs generic drugs, the generic medication is much cheaper. The name brand version has already undergone the marketing process, so the generic version is not subject to advertising costs.
When you have a prescription filled at your pharmacy, often the pharmacist will offer you a choice between brand name vs generic drugs. While you may prefer the familiar name of the well-known brand, and there can be a perception that the name brand is somehow better than generic, many insurance companies discriminate between brand name vs generic drugs in that they will not cover the more expensive version. Whenever you have a choice between brand name vs generic drugs, you will save money by purchasing the generic version.