Definition: Generic drugs are medications that are identical to a name brand drug, but typically cost less. When a new medication is created and
approved for use in humans by the U.S. Food and Drug Administration (FDA), it is protected for a number of years under a patent. Only the company that holds the patent can manufacture and distribute that original medication. When the medication goes off patent, other companies are free to manufacture it and market it under a different name.
The new versions of the medication must have the same chemical make-up as the original and also be approved by the FDA. Generics typically sell for a lower price than the name brand.
When your doctor writes a prescription for a medication, the pharmacy may fill it with a generic version. You may be asked for permission to substitute a generic, or your insurance may only pay for a generic in those cases where one is available. In addition, generic over-the-counter medications are available too; generic medications need not be by prescription only.
