praveenamuthu says
A generic drug is a copy that is the same as a brand-name drug in dosage, safety, and strength, how it is taken, quality, performance, and intended use.
Generally FDA will issue patent for new drug for 20 years. If the patent got expired it will be no longer a property of that particular company and others can manufacture the same drug in the generic form.
The generic drugs are cheap because they dont have to invest money to develop that drug.
for example acetaminophen was developed in 1950 and it was available under one brand name 'Tylenol". But now there are so many brands and generic forms.
Missing Link says
Drug manufacturers hold patents on the brand-name drugs they make and sell. When the patent expires, pharmaceutical companies can manufacture a generic, or copy, of the brand-name and sell it at substantial discounts.
A generic medication has the same dosage, safety, strength, quality, directions, performance, and intended use as its brand-name counter-part. Before generics are made available on the market, the manufacturer must prove it has the same active ingredients as the brand-name and works as effectively. The only differences between generics and their brand-name counterparts is that generics are less expensive and may look slightly different (eg. different shape or color). Trademark laws prevent a generic from looking exactly like the brand name medication.
www.prescriptiondrugscanada.org
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