7 Facts about Generic Drugs
Generic drugs are as good as the brand name drugs. They have same chemical composition, dosage, strength, risks, safety and intended use. Today, approx. 8 in 10 people in the US prefer generic drugs as they cost less. The usage of generic drugs rather than brand-name is expected to grow over the next few years. You can get these Prescription Generic Drugs at discounted rates by using Rx discount cards. Some facts about generic drugs are as follows:
Fact 1: According to FDA, generic drugs must have same quality and performance as brand-name drugs.
- The generic drug has to meet some standards set by FDA for its approval. The generic drug must have the same strength, quality, potency, identity, and activity as that of a brand-name drug. Small variations in size, purity, strength and other parameters are permitted by FDA, as small variations may occur in the manufacturing of drugs in bulk quality.
- Generic drugs must have the same active ingredient, but need not contain the same inactive ingredients as a brand-name drug.
- All generic manufacturing, packaging, and testing sites must pass through the same quality standards as those of brand name drugs, and the generic products must meet the specification of the similar brand-name drugs. Many generic drugs are made in the same manufacturing plants where brand-name drug are manufactured.
Fact 2: Generic drugs are safe and effective as brand-name drugs.
According to FDA, generic drugs work well and are similarly effective and safe as brand-name drugs. Generic drugs have a same active ingredient as brand-name drugs. In general, both these drugs have similar risks and benefits.
FACT 3: The cost of generic drugs is 80-85% less than the brand-name drugs.
When it comes to the price, generic drugs are usually less expensive than the branded drugs. Generic drugs can help people save money on their medication. The FDA approved generic drugs saved approx. $1.68 trillion in the ten years (2005-2014).
FACT 4: The cheaper cost of generic drugs doesn’t mean they are less in quality.
Generic manufacturers manage to sell their generic drugs at cheap prices as they don’t need to undergo the expensive clinical trials of new drugs again and again. Moreover, generic manufacturers generally don’t prefer to pay for costly advertising, marketing, and promotions of the drugs.
Fact 5: FDA is engaged in making generic drugs safer
FDA is completely aware of the undesired effects that people may experience after switching from a brand-name drug to generic drug. So FDA encourages generic drug manufacturers to share their reports of issues with them. FDA investigates these reports to know the facts about treatment failure and make recommendations to healthcare professionals.
Fact 6: Generic drugs work as well as brand-name drugs.
A study was done for clinical equivalence of brand-name and generic drugs. According to which generic drugs for cardiovascular issues were compared with their brand name counterparts. No evidence was found that can prove that brand-name drugs work better than generic drugs.
Fact 7: Generic drugs take same time for the results
Generic drugs work in the same way as brand-name drugs. They take the same time to provide effective results similar to branded drugs.