generic drug

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generic drug,

a drug sold or prescribed under the nonproprietary name of its active ingredients or under a generally descriptive name rather than under a brand or trade name. The name of the active ingredient is established by a government or international body, and is typically the U.S. Adopted Name, British Approved Name, or International Nonproprietary Name. Generic drugs must contain the same active ingredients that their brand name counterparts do and are tested to assure that they are therapeutically equivalent, but they may contain different inactive ingredients from those found in the brand name medications.

There are generic versions of both over-the-counter and prescription medications, but not all drugs have generic equivalents. Generic drugs can only be produced when a patent on a brand name drug expires or when a patent has never existed. They are generally cheaper than the equivalent brand name drug because of much lower marketing and development costs. Because a generic competitor can hurt a brand name manufacturer's profits, drug companies have used legal action and regulatory delays to slow the introduction of generics, or have paid generic manufacturers to postpone the production and marketing of generics. The Medicare overhaul legislation passed in 2003 contained sections designed to speed the introduction of generic drugs by making it easier to challenge weak or invalid drug patents.

References in periodicals archive ?
Prescription drugs are a major contributor to the double-digit increases in health-care costs, and insurers have saved money by encouraging consumers to choose generic drugs over brand-name drugs when it's appropriate.
said Monday that commercial members will receive a discount, and in some instances not be charged, for first-time use of several popular generic drugs.
The only difference is that generic drug makers do not have to repeat the safety and efficacy studies conducted by the developer of the original product.
Some of the major generic drugs manufacturers include pharmaceutical companies such as Dr.
While straightforward tests of blood plasma levels are sufficient to demonstrate bioequivalence for most generic drug candidates, these common tests generally are not appropriate for certain drugs, including asthma inhalers, nasal sprays, and topical skin applications such as anti-fungal creams.
While the Ontario government made some improvements to its system for listing generic equivalents in 2000, Ontario continues to take the longest to approve generic drugs -- an average of 466 days.
As for the competitive landscape of generic drug sales in different regions, in the advantaged areas such as Beijing, Shanghai, Guangzhou and some other first-tier cities, the foreign investment enterprises and joint ventures occupy an absolute advantage; the annual sales amount of a multinational enterprise in Shanghai Ruijin Hospital reached more than CNY 100 million, this number equivalent to the annual sales level of a medium-sized domestic pharmaceutical enterprise.
Competition and opportunities - explore what shapes the generic drugs market's future, especially companies' prospects for sustaining and expanding business
Venezuela, Latin America's fourth largest pharmaceutical market, is also engaged in strengthening its patent protection and now requires tough testing standards for generic drugs.
In Grayson's view, this was "political grandstanding," an opportunistic use of the anthrax scare to promote Schumer's longstanding efforts to make generic drugs more available.
Targeted to pharmacists throughout North America, the new publication's mission is to provide practical information and is taglined "the ultimate resource for generic drug information.
Repealing or amending the Patented Medicines (Notice of Compliance) Regulations of Canada's Patent Act to stop legal battles that keep generic drugs off the market even after original 20-year patents expire.
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