There is a lot of misinformation about generic drugs out there. Once you know the truth about what a generic drug is, you are going to realize that it makes sense to go with generic equivalents of brand name drugs so that you can save a lot of money. Here is a look at some of the myths surrounding generic drugs and why they are wrong.
- Not as Effective - Many people think that generic drugs are not as effective as their brand name counterparts, but this is not true. In fact, generics are just as effective as brand name drugs.
- Not as Safe - Some think that generic drugs are less safe than brand name drugs, but this is not true either. Generic drugs are made in the same way that other drugs are and they have to pass the same safety tests from the FDA.
Generic drugs are the bioequivalent of drugs sold with a brand name attached. Because of this, they are identical when it comes to effectiveness, safety, dosage and other factors. Generic medications have the exact same chemical composition of their brand name counterparts.
When a drug first comes out, the company that came up with it has so much time to market and sell the drug - at whatever price they want. After time, however, others are able to manufacture and sell the same drug. This is where the savings come in.
Just like brand name drugs, generics have to pass the same stringent tests from the FDA. This means you know they are safe. To compete with the brand name drugs that have been on the market for a while, manufacturers usually offer the generic drugs at a much lower price. (They do not need to spend as much on marketing and pass the savings to the consumer.
There is usually a period of about 20 years during which drug companies have patent protection to produce their drug. However, because many companies apply during the developmental stage of the drug, this period may be less when the drug actually appears on the market. After the patent expires, other companies are able to manufacture the drug and sell it with a generic name.
Because there is no research costs to develop the drug and no need to market as much, generic drugs are usually quite a bit cheaper. When generic drugs hit the market there is also more competition, which can drive down prices of generic drugs even more. When you consider it is the exact same medicine, the savings are really attractive.
Are generic drugs safe?
If you think generic drugs are not as safe, you are wrong. They have to pass the same rigid tests as brand name drugs. FDA approval is not granted lightly. They look at generic drugs the same way as other drugs they approve. While inactive ingredients may be different, they still have to be approved by the FDA.
These days, more and more people are going with generic drugs once they know the truth about them. If you are taking a brand name drug, it is a good idea to ask your health care provider if there is a generic equivalent available. These days, more and more drugs are available in a generic version that can save you quite a bit of money.
Generic drugs - Cost effective
Because there is no cost for research or development of generic drugs, they are made available at a much lower price. This makes them a very cost effective way of making sure you have the medicine you need. You need to make sure when you purchase generic drugs online. To help with this, we have a list of reputable online pharmacies that can help you save money with generic drugs.