For those seniors who are looking to lower the costs of prescription drugs, one of the first things to consider is a switch to generic drugs versus their brand-name alternatives.
The one question that typically comes up is the safety and effectiveness of these generic drugs. To answer this question for a reader, I checked into this and came up with a great quote from the FDA on the subject…
“A generic drug is identical — or bioequivalent — to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use.
Video Overview of Generic vs Brand Name Drugs
Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. According to the Congressional Budget Office, generic drugs save consumers an estimated $8 to $10 billion a year at retail pharmacies. Even more billions are saved when hospitals use generics…
…A generic drug is the same as a brand-name drug in dosage, safety, strength, quality, the way it works, the way it is taken and the way it should be used. FDA requires generic drugs have the same high quality, strength, purity and stability as brand-name drugs.”1
Therefore, for those of you who are looking to lower the costs of prescription drugs, generic drugs are a safe and viable alternative.