- Generic drug is one whose patent has expired and
that can be manufactured by any company.
- Generic drug is almost the same as the brand name
drug and is allowed to be manufactured by any company
after the brand name drug's patent has expired.
- A generic drug may be marketed only after the
original drug's patent has expired.
- Generic drugs are usually cheaper than the original
branded version.
"A drug product that is no longer
protected by a commercial patent, meaning any manufacturer
has the rights to produce and sell it, as cheaply as
possible. After a drug's patent has expired, generic
versions of the same compound will be rushed on to the
market to compete with the original branded version.
Health plans often treat branded and generic drugs as if
they were exactly the same drug - even though they are
often made in different ways, often using different
sources of ingredients."
PharmaPath.com
Examples:
- Phentermine which is a generic of
brand name Fastin.
- Carbamazepine which is a generic of
brand name Tegreto
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