Anyone who has been prescribed medications at some point will know that there are brand-name drugs and generic drugs. Some people get confused about the differences between the two, though. Are generic drugs the same as their brand-name counterparts or will there be substantial differences? Keep reading to learn about the difference between brand-name and generic drugs.
Generic Drugs Are Made to Work the Same as Brand-Name Drugs
The first thing to know is that generic drugs are designed to work the same as their brand-name counterparts. Drug manufacturers make generic versions of the drugs in such a way that the purity, stability, and quality will be on par with the brand-name drug. The differences will be very minute, and it must be up to the same quality standard to receive FDA approval. There will be differences, but they won’t impact how the drug works.
All generic drugs use the same active ingredient as the brand-name options. They will only differ in ways that won’t alter the way that the drugs work. For example, a generic drug might have a much different appearance than a brand-name option. This doesn’t impact how it works in any way, but it is a difference nonetheless.
Generic Drugs Are Much More Affordable
Generic drugs are made to be much more affordable for patients. On average, brand-name drugs will cost 80% to 85% more than generic options. Many brand-name drugs will also go up in price over time. This means that sometimes the only affordable way for people to get these medications will be to go with generic options. However, there won’t always be generic drugs available.
Companies are only allowed to make generic variants of drugs once the original company’s drug patent has expired. Once it becomes possible to make a generic drug, multiple companies will sometimes attempt to do so. When more than one company is making a generic version of a drug, it helps to drive prices down even lower. This is good for patients since it makes medications easier to get without breaking the bank.