There is a lot of debate about whether or not brand-name drugs are better than generic drugs and if they are of the same quality. However, there shouldn’t be because according the U.S. Food and Drug Administration (FDA) they require generic drugs to have the same quality and performance as brand name drugs. When a generic drug is approved, they must pass high standards within identity, strength, quality, purity, and potency.
In terms of production, generic drugs are required to have the same active ingredient, strength, dosage form, and route of administration as the brand name. For example, there have been 38 published clinical trials that compared a generic heart drug to its brand name and every study proved they are the same.
Many people wonder why brand name drugs are so much more expensive though, actually around 80% to 85% more expensive than the average cost of a generic drug, and try to argue that because they are more expensive they’re better. This is not the case at all. This price increase is due to a lot of the pharmaceutical companies’ marketing and advertising campaigns, which creates for high competition within the marketplace giving them the ability to raise drug prices.
It also of concern that generic drugs are not as safe. However, the FDA is actively monitoring and engaged in making sure that they are safe.
If you have questions choosing a Medicare plan that offers the coverage you need, contact us at MedicareSolutions at 1-800-328-7305 where a licensed sales agent will immediately assist you.
Below is a great chart provided by the FDA that gives facts about generic drugs.