Generic vs Brand Name Drugs: Understanding the Differences and Saving Money

Prescription drugs can be expensive, whether for short-term treatment or long-term use. However, generic versions of brand-name drugs can provide significant cost savings. According to the Food and Drug Administration (FDA), nearly 80% of prescriptions are for generic drugs, which on average cost 80% to 85% less than their brand-name counterparts.

Types of Generic Drugs

There are two main types of generic drugs:

1. Generic substitution: These drugs are molecularly equivalent to the brand-name version. The FDA certifies that they are equal in terms of effectiveness and quality.

2. Therapeutic interchange: These drugs are medically similar but not molecularly identical to the brand-name drug. They are often used when a generic substitution is not yet available due to patent restrictions.

Effectiveness of Generic Drugs

Research supports the overall effectiveness of both types of generic drugs. A 2015 report published in the Annals of Internal Medicine advocated for increased use of generic drugs, citing their equality with brand-name counterparts and valuable cost savings.

Discussing Generic Options with Your Doctor

Doctors may not always offer the choice of a generic drug due to personal preferences, past success with patients, or lack of awareness about newly available generics. A 2016 ProPublica analysis found that doctors who receive payments from the medical industry tend to prescribe more brand-name drugs on average.

To ensure you have access to cost-saving generic options, be proactive when prescribed any medication and ask your doctor if generic versions are available. In many states, pharmacies can switch to a generic substitution unless the prescription specifies "dispense as written."

Finding the Right Prescription Drug for You

Remember that most drugs, whether brand-name or generic, may not work the same for everyone. If a generic drug is not successful, you are not forced to switch to the brand-name version. Many drugs have multiple generic options, providing you with more choices to find the most effective and affordable medication for your needs.