MYTH: ALL GENERIC MEDICATIONS ARE LESS EFFECTIVE THAN THEIR BRAND-NAME VERSIONS.
FACT: GENERIC AND BRAND-NAME MEDICATIONS ARE EQUALLY EFFECTIVE.
What is the difference between generic and brand-name medications?
There is a misunderstanding that brand-name medications are better or considered more effective than their generic version. However, this is not the case. It is a matter of “patent and exclusivity protection” provided by the FDA in the approval process for a new drug.
When a new medication is first created, the FDA provides patent exclusivity to that drug manufacturer for a certain period of time. Once that time expires, generics can enter the market from other manufacturers.
The generic versions still have to undergo an approval process. They must contain the same active ingredient as well as meet the same quality, safety, and effectiveness standards. Generic medications are also made through compounded equivalents for patients due to individualized factors where a version may not be available on the market, and also if there is a drug shortage.
Brand-name and generic medications may not be 100% identical as they may differ in inactive ingredients (fillers, binders, flavors, etc), but these ingredients do not affect how the medicine work.
Are there certain benefits for generic vs. brand-name medications?
Off the bat, choosing between the two kinds of medications can largely be dependent on the inactive ingredients and how they affect each patient based on factors such as allergies or side effects. But, if these individualized factors permit, there are several benefits that generic medications can offer.
The most common reason patients may opt for the generic versions is that they are typically more affordable. Brand-name medications are more expensive as their manufacturer created the initial drug and set the precedence for the price in the market. Once generics are made, many companies tend to reduce the price of the brand name by around 20% to compete with the new products– but are still typically more expensive than their generic version.
Another benefit, as mentioned previously, is that generic medications include compounds which can be personalized for specific patients’ and their needs.
Preston’s Pharmacy
Preston’s Pharmacy offers both brand-name and generic medications. And as an independent, compounding pharmacy, we are able to offer more cost effective and personalized generic options.
Contact Preston’s Pharmacy, or our Compounding Account Manager at customer.service@prestonspharmacy.com, to learn more and place your order today!
