Generic Drug

Definition: A prescription drug that has the same active-ingredient formula as a brand name drug. A generic drug is identical, or bioequivalent to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use.

Drug companies who develop new drugs are protected under patent laws from competition from other drug companies. This gives them the sole right to sell the drug while the patent is in effect. Once the patent protection expires other drug manufacturers can apply to the FDA to sell generic versions. Generic drugs generally cost significantly less than the brand name while providing the same effect and benefits. Generic drugs undergo a rigid approval process before the FDA approves their release.

FDA

Pronunciation: jen-er'ik

Also Known As: Non-brand name drug.

Common Misspellings: genneric

Examples: The prescription for Mr. Smith's heart medication allowed the pharmacy to substitute a generic drug for the brand name if available.