What is the difference between a generic name drug and a brand name drug?
Generic drugs have the same active ingredients as brand name drugs, but are less expensive. Brand name drugs are manufactured by the company named on the application to the Food and Drug Administration (FDA) for new-drug approval. These companies make the initial investment for product research and development, resulting in higher costs for the brand name drug.
Related Questions
- A non-preferred drug is a medication that has been determined to have an alternative drug available that is clinically equivalent. If I am taking a brand name drug when a generic equivalent is available, at what co-payment level will this drug be available?
- Aetna RX charges like price for brand drug Altace and Ramipril which is the Generic. Is this officially recognized?
- Won’t generic companies stop challenging brand drug patents if Authorized Generics are allowed to continue?
