- Posted On: August 6, 2019
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What Are Generic Medications and How Can I Save?
A generic drug is a medication that has been created to be the same as a brand name medication. It has the same dosage form, quality, route of administration, performance characteristics and intended use as its equivalent brand name product.
When a brand name medication is discovered the manufacturer files for a patent. A patent allows for the protection of the research and marketing investments of the company that innovates a drug by giving it the right to exclusively sell the drug till the patent expires. When the patent for exclusive marketing rights nears expiration, the original drug manufacturer and generic drug manufacturers may apply to the Food and Drug Administration (FDA) for the sale of its generic version. FDA regulations require generic drugs to have the same quality, strength and purity as brand name drugs and the packaging must pass the same quality standards.
Since generic drugs have the same active ingredients and work the same way in the body, they carry the same risks and benefits of their brand name counterparts. Generic versions of FDA approved drugs meet the rigorous standards of identity, purity and potency, so one can take them with confidence. Though FDA regulations allow for up to 20% variation in the active ingredient of generic and brand-name drugs, in reality, the variation is much less, 6% or even less. There will always be some level of natural variability in the branded and generic drugs however it will not impact the effectiveness of the medication. As the chemical composition of the generic and branded drugs is the same, generic drugs are thought to be pretty safe to use.
Generic medications are cost effective because generic drug manufacturers are not required to test the drugs in clinical trials to ensure that the patients respond to them the same way as the branded drugs. In addition, competition between the branded drugs and multiple manufactures of generic drugs lowers the costs of generic medicines. When multiple generic companies market a single approved product, market competition typically results in prices about 85% less than the brand-name.
Generic drugs look different from brand name products because the laws in the US do not allow the generic medicines to look exactly like the brand-name products. Though the two versions have the same active ingredients, they may vary in flavorings and color that do not affect their performance, safety and effectiveness.
Brand name products are higher in cost and many people can’t afford the high cost of branded drugs. Generic medications cost less and have the same ingredients as the brand product.. In many states, pharmacies are required to provide the customers generic version of the medication unless otherwise prescribed by the doctor.
Generic drugs are heavily regulated by the FDA and there is no proof at this point that they are less effective or safe as the branded ones. Generic medications can be taken as a subsititute to their brand counterpart.
Generic manufacturers compete directly on price with brands. Generic drugs can help you save significantly on health care costs and improving access to healthcare.
SaveonMeds Drug discount card has the highest savings on generic medications. The prices of generics can vary drastically between pharmacies. SaveonMeds has negotiated lower rates with over 65,000 pharmacies to help consumers save on their prescriptions. Click here to check where your prescription is the cheapest.
To save money on your healthcare spends and get quality products at reasonable costs, always request generic medications. SaveonMeds Discount Drug Card allows you to save significantly (up to 75% and sometimes even more) on your generic medication purchase. There are no annual or lifetime limits, age limits, renewal charges, or upfront sign up costs. Use the same card for all medications no enrollment is required. SaveonMeds may be cheaper then your insurance.
Anyone can use the SaveonMeds Drug Discount Card. The discount card is a great option for those who are uninsured. However, it may be cheaper then your insurance and can also be used for all medicines not covered by insurance. SaveonMeds drug card also covers medications for your pet and over the counter medications prescribed by your doctor.
Text the keyword SaveonMeds to 21000 to receive your free drug discount card on your mobile phone. Simply present the card to any of our 65,000 network pharmacies while purchasing in-store medicines and start saving immediately.
Disclaimer: The information and content posted on this website is intended for informational purposes only and is not intended to be used as a replacement for medical advice. Always seek medical advice from a medical professional for diagnosis or treatment, including before embarking on and/or changing any prescription medication or for specific medical advice related to your medical history.
Click here to download your card
