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 ?
Of the 12 generic drugs available through GenericSelect, most target common indications including depression, high cholesterol, high blood pressure, diabetes and arthritis pain.
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.
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.
Amid news reports of price gouging and shortages of off-patent prescription drugs, a new study finds that the market for generic drugs is dominated by small-revenue products with only one or two producers.
WASHINGTON -- The Food and Drug Administration has again delayed a decision about whether to require makers of generic drugs to take more responsibility for providing patients with safety information about their products.
Read full report on canada generic drug market with TOC: http://www.
31) The Hatch-Waxman Act was a compromise between brand-name drug manufacturers and generic drug manufacturers that sought to induce brand-name manufacturers to invest in research and development for new drugs while also bringing cheaper, generic versions of those drugs to consumers.
15] But in this study, majority of physicians were found to be comfortable with the efficacy and safety of generic medications in spite of knowing that generic drug manufacturer need not repeat the preclinical and clinical studies required for originator medicines.
The FDA and the European Medicines Agency (EMA) have launched a joint initiative to share information on inspections of bioequivalence studies submitted in support of generic drug approvals.
Generic drugs create savings that can be redirected elsewhere.
The ostensible reason for Khan's parliamentary do was to present his views on the need to promote generic drugs in the country.
Prices of 484 generic drugs whose original brand name drugs are in the market will be reduced by more than 22 percent and a 15 percent reduction in prices will affect some 186 generic drugs that do not have their corresponding brand drugs," he said.
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