what is the difference between generic medicine and brand name?
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Brand Drugs The brand name of a medication is the name given by the company that makes the drug and is usually easy to say for sales and marketing purposes. The generic name, on the other hand, is the name of the active ingredient.
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Generic medicines work the same as brand-name medicines This standard applies to all FDA-approved generic medicines. A generic medicine is the same as a brand-name medicine in dosage, safety, effectiveness, strength, stability, and quality, as well as in the way it is taken and should be used.
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The generic versions will be the same as the branded medicine because they contain the same active ingredients. They are used more often by the NHS because they're just as effective but cost far less. It's similar to buying branded goods or a supermarket's own label – the supermarket's version is usually cheaper.
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They have the same active ingredients, and the manufacturing and packaging must pass the same quality standards. The U.S. Food and Drug Administration (FDA) requires generic drugs to have the same performance and quality as brand name drugs.
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The main difference between a generic market and a product-market is that: a generic-market involves a less similar set of needs than does a product-market. A basic difference between a "generic market" and a "product-market" is: how similar the competing sellers' products are.
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The only difference between the products is that name-brand stations may put extra engine-cleaning additives in their gas. ... It means you can feel very comfortable knowing that generic gas won't harm your engine, and expensive gas won't provide miraculous improvement in gas mileage and engine performance.
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Inhalers can have generic names and be produced by different drug companies too. For some medicines there are different inhaler devices that deliver the same medicine. This means that there are many types of inhaler available on prescription, all of which are produced in different colours.
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The drug which is protected by patent is a branded drug (Patent Medicine) and the drug which is a copy of branded drug and is equivalent in terms of safety, efficacy, dosage and use is called a generic drug.
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Pharmacies generally make much higher profit margins on generic drugs. That's because there are many manufacturers producing the same medication. The cost of these generic versions is much lower for pharmacies and allows more room for price fluctuation between pharmacies.
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Second, while a brand-name drug is only sold by one manufacturer, several companies will usually sell the same generic drug, which leads to competition in the marketplace and lower costs for consumers.
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How are generic and brand name drugs the same? Generic and brand name drugs have identical active ingredients, and generic drugs must meet Health Canada's standards for bioequivalence. Bioequivalent drug formulations have the same bioavailability; that is, the same rate and extent of absorption.
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All generic versions of a drug are considered by the licensing authority to be equivalent to each other and to the originator drug. Therapeutic substitution is the replacement of the originally-prescribed drug with an alternative molecule with assumed equivalent therapeutic effect.
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The prescription should note the brand and generic name of the drug. If you're taking an unusual drug or one that contains narcotics such as sedatives, carry a note from your doctor explaining what the medication is and why you need it. Note that some over-the-counter drugs legal in the U.S. may be illegal elsewhere.
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The drug which is protected by patent is a branded drug (Patent Medicine) and the drug which is a copy of branded drug and is equivalent in terms of safety, efficacy, dosage and use is called a generic drug. Generic drugs will cost less.
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Google, Taser, and Xerox are all examples of brand names that have become generic words for a type of product. The process is known as genericization, and in some cases, it can result in companies losing their trademark.
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Brand Name vs. Canon, Nikon, and Sony all produce batteries for every camera they sell, and many other camera manufacturers do as well. As is often the case, generic brands compete in the digital camera market. They are the exact size and shape of the brand-name batteries and often have the same output of power.
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What is the difference between formulary and non-formulary brand name prescriptions? Formulary prescriptions are medications that are on a preferred drug list. ... Drugs that are usually considered non-formulary are ones that are not as cost effective and that usually have generic equivalents available.