In recent years, generic Prescription drugs have become extremely popular. According to the FDA, over 44% of prescriptions filled in the USA are for generic medication. With the popularity however, comes some confusion. In this post, we’ll discuss several frequently asked questions about generic drugs.
What is a generic drug?
A generic drug is basically a copy-cat version of a brand name drug. Generic medication is allowed to be manufactured only after the innovator drug firm’s right to sell it exclusively has expired.
Why are generic drugs so much cheaper?
Generic meds are cheaper because the manufacturer does not have to invest in research and clinical trials. This work has already been done by the drug company who invented the drug. This savings is passed on to the customer.
Is generic medicine safe?
Generic medication is equally as safe as their brand name counterparts, because they contain the exact same active ingredients. However, they are also prone to the same side-effects as brand name medications. The only reason a generic medicine would not be safe is if you’re taking it without knowing the side-effects. Be sure to consult your doctor.
Be sure to ask your pharmacist about a generic drug substitution, even if your doctor prescribes the name brand.
How can I save money on Generic Prescriptions?
Generic medicines are cheaper, but they can still be pricey. Medicine discount cards, such as MedSaverCard, can save you a significant amount on generic drugs that are not covered by your insurance provider, or if you have no insurance at all.