Do You Need to Splurge for Brand-Name Drugs?
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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$100
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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.
Learn More
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