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Generic vs Name Brand Medication

medication

Generic vs Name Brand Medication

 

A lot of people believe that buying brand name medication is better for them then the generic medication. They either believe that name brand medication has more medication in it then the generic. When really if you take a Generic or store brand bottle and compare it to the name brand medication they both will have the exact same does of medication in. You are just paying more in the stores for a name for you medication that you think is better or phycology you think works better when in reality they are both the exact same and have the exact same medication in it.

When you are even filling a prescription that the doctor gave you, you will want to make sure you talk to the pharmacist and find out if they have a generic version of this medication.  You will be able to save yourself hundred's of dollars by requesting the generic version of your medication over having the name brand. If you have a health plan that only covers certain medication, you will want to ask the pharmacist if it doesn't cover the name brand if it will be able to cover the generic brand name.

Many people also will become concerned because generic drugs are often substantially cheaper than the brand name versions. People will wonder if the quality and effectiveness have been compromised to make the less expensive products. The FDA requires that generic drugs be as safe and effective as brand name drugs.

Actually, generic drugs are only cheaper because the manufactures have not had the expenses of developing and marketing a new drug. When a company brings a new drug onto the market, the firm has already spend substantial amount of money on research, development, marketing and promotion for that drug. Then a patent will be granted that will give the company that developed the drug a exclusive right to sell that drug as long as the patent is in effect.

Once that patent nears a expiration, manufactures can apply to the FDA for permission to make and sell the generic versions of the drug, without having the startup costs for development of the drug. This will allow the other companies to make and sell the drug more cheaply for you. When multiple companies begin producing and selling a drug the competition among them can and usually will drive the price down even further.

So next time you are at the store and need Tylenol or Advil consider buying acetaminophen or Ibuprofen which is the same medication which is in the name brands.

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