header

Generic and Brand-Name Drugs

You will find that both generic and brand-name drugs are covered on the drug formulary. However, you will probably also notice that generic drugs usually cost less than brand-name drugs.

Generic Drugs: Generic drugs have the same active ingredients as their brand-name drug counterparts. They usually cost less than brand-name drugs and are rated by the Food and Drug Administration (FDA) to be as safe and effective as brand-name drugs. For individuals who must take several medications regularly, generic drugs offer the advantages of being comparable to brand-name drugs at a more affordable cost.

Brand-Name Drugs: A brand-name drug is a patented, FDA-approved drug usually produced by a single manufacturer with a product name under which the drug is advertised and sold. Newer drugs are usually available only as brand-name drugs. A brand-name drug may have an equivalent after the original patent expires.