Definitions
Health Insurance Terms
Generic Drug

Generic Drug

Definition:

Generic drugs must meet the same FDA standards for safety as brand-name drugs. Generic drugs, which can be substituted for their brand-name counterparts, contain the same active ingredients in the same amounts as the brand-name products.

Application:

Generally, generic drugs cost less because the price does not reflect development and advertising costs. We encourage you to discuss with your doctor whether a generic medication may be appropriate for you.

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