How does a brand name medication become a generic medication?
When a medication is first developed it is protected by a patent for 17 years. However as long as 10 years may pass between the drug’s development and its actual approval. This leaves the manufacturer only the remaining seven years for exclusive sale of the medication. After the patent expires, other companies may produce and sell the same medication with FDA approval. These become the generic versions and can be sold, in most cases, for less money because less research and development must be completed to reach FDA approval. Currently, over one half of all brand name products have a generic equivalent available.
Generic pills are just not branded cheaper versions of known meds. They are still good and pretty effective but just cheaper. I often get some of those for me from Canada Pharmacy, and I think that service is pretty good. I would like to recommend that you check it out too, good luck and be careful!
Related Questions
- A non-preferred drug is a medication that has been determined to have an alternative drug available that is clinically equivalent. If I am taking a brand name drug when a generic equivalent is available, at what co-payment level will this drug be available?
- When is a MILA participant responsible for paying the co-pay for a brand name medication which has a generic substitute?
- If brand name and generic drugs are clinically equivalent, why do some people have a reaction to a generic medication?
