6 Myths on Generic Drugs: Q&A with Consumer Reports
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Did you know that over 80 percent of prescriptions are filled with generic drugs? Generic medicines are just as safe and effective as their brand-name counterparts, but since they typically cost much less, they save consumers an estimated $ 8 to $ 10 billion dollars a year. Yet according to a recent survey by Consumer Reports, four out of ten Americans have misconceptions or concerns about generic medicines.
We sat down with associated Consumer Reports Best Buy Drugs editor, Ginger Skinner to clarify some common questions about generic medicines.
When and why drugs go generic?
About 12 to 15 years after the initial release of a brand name drug, its patent expires and generic drug manufacturers can legally produce medicines containing the same active ingredient. So in essence, generic drugs are duplicates of brand-name drugs.
Why does generics cost less?
Generic medicines can cost up to 95 percent less than brand-name drugs. This is because generic manufacturers do not have the expense of their development from scratch and rarely spend money on advertising. And those lower costs can translate into the better grip, there is research that suggests that people who use generic medicines are more likely to stay on the drug as directed, compared to those who use more expensive brand name drugs.
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It is the generic version of my prescription is as effective as the branded drug?
Yes, it is. And I'm glad you asked because the concerns about the effectiveness (how well a generic drug work) were spoken in our recent survey. So that's a myth we want to dispel. The US Food and DrugAdministration require that all generic drugs contain the same active ingredients in the same strength as their brand-name counterparts. Case in point: a 2008 study that evaluated the results of 38 published clinical studies comparing drugs to a generic medicine to their branded versions has found no evidence that the marks were more effective than generics. Generics are also required to have the same stability and purity, enter the same form - for example, tablet, patch or liquid and be administered in the same way as their branded counterparts.
What about the safety of generic medicines as compared to their brand-name counterparts?
Just as generic and brand names contain the same active ingredients, they also have the same risks and benefits.
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