Did you know that nearly half of the American population uses prescription drugs? And, more than 12 percent of Americans use five or more prescription medications.
But, with the rising price of prescriptions, that can add up fast! Thus, many individuals take generic medication to lower their health expenses.
Are you thinking of swapping your branded medication with a generic version? If so, you likely have some concerns, which is why you should keep reading this post that compares branded vs generic medication.
Generic medicines cost 80 to 85% less than brands, but why?
One reason is that brand-name drugs go through expensive studies and trials to ensure they are safe and effective for human use. However, generic alternatives don’t have to go through this process. Instead, they use the same active ingredients as the brand-name drug, allowing them to lower costs and charge less for the product.
Moreover, there is typically more than one generic drug company offering the same medication, creating competition in the market. And this leads companies to lower their prices to attract more customers. So, it would help if you researched more info on the cost of various drugs before choosing one.
Although generic drugs must have the same active ingredient as the brand-name version, trademark laws require them to look different.
So, when switching a patient to a generic version of a prescription that has different physical characteristics, they may:
- Fail to identify the medication
- Be unwilling to comply with treatment
- Experience the nocebo effect, which occurs when negative expectations lead to a lesser result (whether perceived or actual)
Thus, many generic drug companies try their best to produce a medication as similar in appearance to the original as possible.
Naturally, you worry that taking medication with a generic label may lead to inferior results or health risks. But is branded medication better?
Generic drugs must go through a rigorous process before receiving FDA approval. Some of the requirements include:
- Pharmaceutical equivalency to the brand medication, including the active ingredient(s)
- Secure and consistent production
- Safe inactive ingredients
- Suitable packaging
Before selling their product, the drug company must file a new drug application and meet the above standards.
Of course, some people have no idea that generic alternatives for their prescriptions exist. So, if that’s your case, ask your pharmacist or doctor. Or, you can search on the list of FDA-approved drugs.
Save Money by Switching to Generic Medication
Unfortunately, many people have misconceptions about generic medication, and as a result, they continue to pay elevated prices for their prescriptions.
Yet, after reading this post, you understand the differences between brand and generic medicines, allowing you to make the best choice for your wallet and well being when buying medication.
We want to help you by offering you reliable information that can benefit you. So, don’t forget to browse more of our health and fitness content!