A generic is a medication that is indistinguishable from its brand-name competitor in terms of safety, quality, and results obtained from use.

According to the Food and Drug Administration (FDA), all medications (including brand names and generic medicines) must perform as described. Generics utilize the same ingredients as brand-name counterparts, and perform with comparable risks and advantages.

That said, individuals tend to not trust that generics perform as well as brand-name drugs. To guarantee quality, safety, and practicality, the FDA audits each and every generic drug marketed. This includes surveying scientific information on ingredients and clinical tests concerning performance. Generic lab facilities are as rigorously inspected by the FDA as big name pharmaceutical facilities.

1. Generics are gaining in popularity

The much lower cost of generic drugs compared with brand-name equivalents have made them an indispensable addition to inventory for drug stores such as FairPriceRx. The Hatch Waxman Act set up guidelines for producing cutting edge generic medication in 1984. Since then generics have gradually increased in numbers within the overall pharmaceutical inventory.  By 2016, generics have established themselves as fully 89% of aggregate inventory, while accounting for only 27% of aggregate medical costs. Continue reading →