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We are living in a time when we need relief from the burdensome and rising costs of health care.
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Numerous sources note there are close to 50 million Americans without health insurance, and for those with health insurance, they are falling victim to rising premiums, copays, and prescription prices. That is where generics come into play.
Did you know that generic medicines account for 69% of all prescriptions dispensed in the United States? ¹
Generic drugs are identical in effectiveness, contain the same active ingredients, and are manufactured under the same stringent quality standards as high-priced brand drugs. The bottom line…generics will cost you a lot less.
The below are common questions and answers that will help explain how drug makers and government regulators ensure your health and safety—and help you save money through generic drugs.
What is a generic drug? In most cases, a generic drug is simply a tablet, capsule, cream, ointment, or other medication whose active ingredients, strengths, and approved medical uses are equivalent to a particular brand name drug.
Facts:
· 10,072 of the 12,751 drugs have generic counterparts.
· US brand pharmaceutical manufacturer sales for 2007 were: $228 billion.
· US generic pharmaceutical manufacturer sales were $58.5 billion (Sources: IMS National Sales Perspective, FDA and MedAd News)
Can my doctor prescribe a generic equivalent to any brand name drug? No, because there is not always one available. When a new drug is first developed by a pharmaceutical company (which is commonly known as the drug’s innovator), it is usually protected by a U.S. patent or another period of exclusivity granted by the government, just like any other invention. During the period of patent protection (generally 20 years), only the innovator can market the drug. Drugs that are patent-protected are typically sold under brand names such as: Prevacid®, Synthroid®, and Ambien®. (Prevacid is now sold OTC or Over-The-Counter.)
Are generic drugs truly equivalent to brand name drugs in effectiveness and quality?
• Single set of standards. All medications, brand name and generic, are regulated by the United States Food and Drug Administration (FDA) and the FDA has a single set of standards for the effectiveness, safety, and quality, in manufacturing all drugs, brand name or generic.
• Ensured effectiveness. Of course, prior to approval by the FDA, generic drugs are thoroughly tested by the manufacturer. They are also reviewed and tested by the FDA, to ensure that their active ingredients and quality are the same as their brand name equivalents.
• Same high quality. When it comes to pharmaceuticals, quality has several characteristics, such as purity, consistency, and stability (shelf life). In all these areas, the FDA holds generic drugs to the same standards as brand-name medications.
If they are made the same way as brand-name drugs why do generic drugs cost less? The answer is competition. Once a brand-name drug is manufactured generically, there may be several companies selling generic equivalents. Competition drives the price down as these companies try to win your business. But remember: the FDA won’t let any of the competitors compromise on quality. Instead, they settle for lower profits on each prescription. This turns out to be a big benefit for you.
How much less might a generic drug cost me? In 2007, the average retail price of a generic drug was $24.34 compared and the average retail price of a brand name prescription drug was $119.51. Generic drugs save consumers between $8 billion and 410 billion each year.² Your pharmacist can help you compare prices.
Which retailers offer discounted generics? Many retailers offer discounted generic products. You can find a variety of medications—everything from asthma and arthritis to diabetes and heart medications beginning with $4 generic prescription programs (in most states) at Wal-mart and Target for a 30-day supply. Certain restrictions may apply, so be sure to check with the pharmacy counter at these stores.
Here are some helpful generic product lists from Wal-Mart and Target below.
http://i.walmart.com/i/if/hmp/fusion/genericdruglist.pdf
http://www.c-comp.org/guide/resources/pharmacy_4dollar_program_list.pdf
Where can I get more information about generic drugs? Certainly physicians, pharmacists, and other healthcare professionals can help you when it comes to understanding generic drugs, their effectiveness and the quality you can expect. In addition, you can visit www.genericaccess.com, the website of the Generic Pharmaceutical Association. Also, you can review some of the sites of the leading generic manufacturers such as: Teva Pharmaceuticals USA, Mylan Inc., Sandoz (Novartis), Watson Pharmaceuticals, and Mallinckrodt for more information.
Please keep in mind that the information provided here is not a substiture for the personal medical advice from your qualified healthcare professionals. All trademarks and register marks of products mentionted are owned by their respective manufacturers.
This content is provided by the author, Donna Bandal, and is referenced with a below list of sources. MomOffersMore is not responsible for any content or interpretation of this content.
Sources: 1. IMS, Health. 2007 (IMS is an independent company which tracks all aspects of the pharmaceutical industry. 2. National Association of Chain Drug Stores 2008. Prevacid®, Synthroid®, Ambien CR®, Flomox®, and Imigran® are trademarks owned by their respective manufacturers.

Donna Bandal, MBA, has been employed in the healthcare and pharmaceutical industries for over twenty years. With an expertise in Pharmaceutical Marketing, and Communications and Advertising, she often writes on various healthcare topics.
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