What you Need To Know About the Generic Drugs?
Know More About Generic Drugs
Have you ever encountered this? Let’s say you went on to see your doctor on a consultation visit. Then your doctor examined you, made a diagnosis, and prescribed a trusted, and well-known brand medicine. After looking up the prescribed medication on their website, you discover that it costs so much. What do you do? You search for alternative drugs and then you see that they are widely available, and cheaper.
You see, the equivalents and alternatives of generic drugs are usually cheaper, with their costs being at least 80% lesser than the brand name variants.1 Do you know that at least two-thirds of prescriptions made today comprises of generics?2 At our facility, we can help you with suitable generics for your prescription so you can save more money and still enjoy good health.
Don’t forget – there’s a big difference between generic alternatives and equivalents. In what ways do they differ? Let’s examine them, and also compare the costs.
Overview of a generic equivalent
When a medication is labeled as “generic”, it doesn’t mean that it is less effective or unsafe. They are of very high quality, only that they do not have patent protection.
The US Food and Drug Administration (FDA) has agreed that generic drugs are very safe, and can treat your health condition with high efficiency, just like the branded versions. The ingredients used to make these drugs are approved by the FDA, and they are administered in the same way.3
The question now is, what differentiates a generic medicine from its branded version? Well, for one, the inactive ingredients used in its production may be different, for instance, it may be produced with different flavoring, colors, and preservatives. These ingredients change the appearance of the drug but do not affect its efficacy.4
Overview of alternative medicine
The term “alternative medicine” is often used to describe common non-medical treatments like herbal supplements and acupuncture. In medicine, the term “alternative” means branded or generic medicines are very similar to a branded medicine originally prescribed by your doctor. Your healthcare provider may recommend an alternative medicine for you if there’s no generic equivalent to your brand-name medicine. The dosage of alternative medicines may differ. Their ingredients may also differ, but they can treat the same condition or similar conditions.
Does your prescription have suitable alternatives? You can find that out, and we are ready to assist you. We can work with your healthcare provider to find one that suits you.
How much can you save from each drug?
Take a look at the table below. We’ve listed the five most-requested branded – name drugs and how much you have to pay per dose of each. The table also compares it to their generics and alternatives.5
*Note that this list is only for informational purposes. Not all may be covered by your insurance plan. To verify, please check your Evidence of Coverage.
Are generic drugs cheaper and safer?
Of course! Generic drugs are safe and very effective, just like the brand-name versions. These drugs can only be produced once the brand-name patency has expired.
What makes a brand-name drug expensive? You see, the production of a new medicine requires a lot of research, and huge amounts of money are spent by brand-name manufacturers to fund this researches. They also pay heavy sums for clinical trials. This is to ensure that the medicine is effective, and safe for human consumption. With such huge investments, the FDA, therefore, allows the patent manufacturer to be the only producer and seller of the new medicine for several years.
After the expiration of the patent, other manufacturers can create their versions of the drug. However, before doing this, they have to convince the FDA that their version has the same level of safety and effectiveness as the brand-name version. The good news is that these manufacturers usually don’t have to do clinical trials. So, they cost less.
You must consult your healthcare provider on which medicine is best for you. It doesn’t matter what you need – whether it is generic or brand-name medicines, we will assist you to get it right on time. If your insurance plan does not cover the brand-name medicine, we will assist you to find the cheapest, but highly effective options available. We will also screen your order to ensure that it is accurate. We value your safety. When we are sure that everything is set, we will ship your order right to your door.
- “Generic Drugs: Questions and Answers,” U.S. Food and Drug Administration, last accessed September 17, 2020, https://www.fda.gov/drugs/questions-answers/generic-drugs-questions-answers.
- “Generic Medications: Are They the Same?” Glaucoma Research Foundation, last accessed August 19, 2020, https://www.glaucoma.org/treatment/generic-medications-are-they-the-same.php#:~:text=About%20two-thirds%20of%20all%20prescriptions%20filled%20are%20generic,how%20the%20drops%20feel%20and%20how%20they%20work.
- “Generic Drug Facts,” U.S. Food and Drug Administration, last accessed August 19, 2020, https://www.fda.gov/drugs/generic-drugs/generic-drug-facts#:~:text=A%20generic%20drug%20is%20a%20medication%20created%20to,strength%2C%20route%20of%20administration%2C%20quality%2C%20and%20performance%20characteristics.
- “Generic Drugs: The Same Medicine for Less Money,” Consumer Reports, last accessed August 19, 2020, https://article.images.consumerreports.org/prod/content/dam/cro/news_articles/health/PDFs/GenericDrugs-FINAL.pdf.
AARP drug pricing tool, last accessed September 30, 2020, https://aarppharmacy.com/find-a-drug-price/.