Generic DrugsWednesday, February 22, 2012
Generic drugs save consumers billions of dollars a year, but is there any difference between generics and name brand drugs? Dr. Edward Hill tells us in todays 60 Second Housecall.
Generic drugs save consumers an estimated billions of dollars each year. Even more money is saved when hospitals use generics.
A generic drug is a copy of a brand-name drug in dosage, safety, strength, quality, and performance.
Since generics use the same active ingredients, they have the same risks and benefits as their brand-name counterparts.
The FDA requires generic drugs to have the same quality, strength, purity and stability as brand-name drugs. Generic drugs work in the same way and in the same amount of time as brand-name drugs.
Brand-name drugs are generally given patent protection for 20 years. This provides protection for the drug company that laid out the initial costs to develop the new drug.
When the patent expires, other drug companies can sell generic versions, but only after they have been thoroughly tested by the manufacturer and approved by the FDA. Ask your physician if a cheaper generic medication will be just as effective for you.
For North Mississippi Medical Center, Im Dr. Edward Hill.