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Buy Generic: A Smart Way to Reduce Your Healthcare Costs

Lower price doesn’t always mean lower quality. Know the facts about prescription drugs to save money and stay healthy.

FACT: Prescription drugs can be both brand name and generic. Although generics are chemically identical to their branded counterparts, they cost a lot less.

FACT: Generic drugs are required by law to have the same active ingredients, strength, dosage, form and administration as brand-name products. The main difference is price. Generic drugs can be sold cheaper because their manufacturers are not paying for costly clinical trials, advertising, marketing or promoting their products. These are prescription drugs that have been available to the public for a many years.

FACT: Today, nearly 8 in 10 prescriptions filled in the U.S. are for generic drugs. And generics are expected to grow in the next few years.

FACT: Generics must pass the same quality standards as brand-name drugs. All generic manufacturing, packaging and testing sites must pass the same standards as the brand name. In fact, many generic drugs are made in the same manufacturing plants as their brand-name counterparts.

FACT: The cost of a generic drug is 80 to 85 percent lower than the brand-name product. The use of FDA-approved generics can save billions of dollars every week.

FACT: Generics are just as safe as brand name drugs. The FDA is actively engaged in making all generic drugs safer. It also monitors adverse events reports for generic drugs.

Don’t overpay for a name brand when there are generic options.

Source: U.S. Food and Drug Administration

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