What are generic medications and how do they work?

With medical costs constantly rising, it’s smart to stay informed of how you can better manage your medication expenses. Let’s understand more about generic medications and how they work.

What does generic mean?

A generic medication is simply the non-brand-name version of your usual medication, essentially a copy. Everything about it is basically the same as your brand-name medication. In fact, all the ingredients and benefits are virtually the same as the original drug.

As an example, your doctor may prescribe you Brand Name X which is for headaches. At the pharmacy, the pharmacist may offer you a generic version which is called Headache Tablet Y. Headache Tablet Y has all the same ingredients as Brand Name X, and does exactly the same job – relieving your headache. And, the good news is that it’s set at a lower price.

Why are generic medications cheaper?

Almost every product has to go through an extensive research and development phase. Medical experts spend a lot of time creating and formulating the medication and running lengthy tests to make sure it does the job.

Then, once the drug is ready, it still needs to be advertised and marketed and shipped off to pharmacies. As you can see, these costs start to pile up. This is why many of the brand name medications are relatively expensive. Also, each of these medications may have a copyright or patent, meaning that only the company that created them can sell them for a certain period of time.

After a while, the patent on the brand name drug runs out. This allows other companies to make the same medicine, now known as the generic version, which is usually much cheaper. These companies didn’t have to spend money on all that research and development as the original company, so they can sell it at a much lower price.

Do generic medications offer the same benefits?

Short answer – yes. In every country, the relevant authority, like the US Food and Drug Administration (FDA) makes sure that generics work just as well as the brand-name drugs.

Remember, generics will contain the same ingredients and offer the same treatment and benefit, although they can sometimes look different (colour, shape, size).

This is good news when medical costs are difficult to manage, as generics are relatively more affordable but you still receive the same medical treatment. Generic medications also go through strict tests to make sure they are just as safe and effective as the brand-name versions. They have to meet the same high standards.

Good to know

If you’re given the option, choosing the generic medication can be a great way to save money while getting the same quality treatment. These are especially useful if you have a chronic condition and need to take a specific medication regularly to manage your illness.

Remember, the pharmacist is there to answer any questions about these medications, so ask away if you’re unsure of anything. 

Disclaimer

This article is for informational purposes only. Always check with your doctor or medical practitioner about any health concerns, before embarking on any fitness or nutrition programme, or using any medication.