What is the difference between brand and generic medication?
Prescription drugs are protected by patent. Those patents last for 17 years from the discovery of the drug. After the patent expires, other drug companies can copy the formula for a medication and produce it much more cheaply than the brand price. The active ingredient in generic medications is exactly the same as the active ingredient in the brand drug. • Why is there a cost difference between brand and generic medication? Drug companies are for profit companies. Creating a new drug entity is an extremely expensive undertaking. Drug companies recoup their expenses and make a profit by keeping drugs on patent and recouping their development expenses. They also expect to make a profit for their efforts during the time the drug is on patent. • Is there a generic drug for my medication? Ask your physician or pharmacist if there is a generic medication that will meet your needs. Some medications are already off patent and are available generically. Your doctor can help you make a proper de
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?
- When is a MILA participant responsible for paying the co-pay for a brand name medication which has a generic substitute?
- If brand name and generic drugs are clinically equivalent, why do some people have a reaction to a generic medication?
