You’ve probably seen brand-name drugs advertised everywhere from magazines to commercials, but you could be drastically overpaying for your medication. How do brand-name drugs and their generic counterparts actually compare?
Explore the facts below
The FDA requires that generic versions of drugs have the same active ingredients as the brand-name version.
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The FDA requires “bioequivalence” between brand-name and generic drugs. However, generics may have different inactive ingredients, as well as a different shape, color, or packaging.
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The FDA requires “bioequivalence” between brand-name and generic drugs. However, generics may have different inactive ingredients, as well as a different shape, color, or packaging.
Generic drugs can keep you healthy for less.
Learn more about how generic drugs compare to name-brand drugs.
On average, the cost of a generic drug is 80 to 85% less than its brand-name equivalent.
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From 2007 to 2016, generic drugs saved the U.S. health care system $1.67 trillion—including $253 billion in 2016 alone.
In 2016, generics constituted 89% of all prescriptions written in the U.S., but only 26% of total drug costs.
Even more peace of mind.
There is another option if you want the exact same chemical composition as a brand-name drug, but don’t want to pay brand-name prices.
Authorized generic drugs have the same active AND inactive ingredients as brand name versions.
Authorized generic drugs, which are identical to the brand name version, are relatively uncommon.
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Over one-third of brand name drugs have an authorized generic version available.
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Over one-third of brand name drugs have an authorized generic version available.
DID YOU KNOW?
The FDA website has a list of over 1,000 authorized generic alternatives that are identical to their brand name version, but much less expensive.
Want more health information like this? Check out the MAPMG blog to get health information for the whole family from physicians you can trust.