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A Generic Drug is identical to the brand-name version in safety, strength, quality, characteristics, administration, dosage form, and intended use. Generic drugs are identical in chemical formulation to their brand name equivalent and are generally sold at substantial savings from the brand name drug.
To find out if there is a generic equivalent for your brand-name drug, you may search Pharmacyinfosys.com by the brand name or for the ailment it is used to treat.
Since generic drugs contain the same active ingredients as brand-name drugs they have the same effectiveness as the more expensive brand-name drugs. The FDA, WHO, and other regulating authorities require generic drugs have the same high quality, strength, purity, and stability as the brand-name drug.
Not every brand-name drug has a generic drug. Drugs are protected by patents usually lasting for 20 years. The patent, which allows the company that developed the drug to recoup the cost of R & D, prohibits anyone else from making and selling the drug until the patent expires. Once the patent has expired, other pharmaceutical companies are allowed to sell a generic version. Manufacturers are required to test the generic drug and receive the approval of the drug regulatory agencies before it may be sold.
Creating a drug costs lots of money. Since generic drug manufacturers do not have the cost of R & D, generic drugs are usually cost less than the more expensive brand name drugs. Generic drugs have to meet the same strict standard as the name brand before they can receive approval. These standards require:
It is estimated consumers save $8 to $10 billion a year if they buy generic drugs.