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 ?
Generic drugs create savings that can be redirected elsewhere.
The fault lies with his hosts who appear to be blissfully unaware of the work being done on generic drugs by other panels of the parliament.
The pricing system of generic drugs and brand name drugs has faltered in recent years and various obstacles have been a burden to lowering the prices of medicine," said Khalil, who stressed the need to pass a number of legislative measures to reshape the industry.
One way to protect yourself from the unknown risks of new drugs is to request generic drugs.
Generic drug manufacturers don't have to pay as much as brand-name drug manufacturers do for expensive research and development, sales, advertising and marketing.
But the Saskatchewan money saving scheme might be in danger, because the largest generic drug manufacturers do not bid on Saskatchewan contracts because offering lower process to one province would prevent them from doing business in other jurisdictions, said Ken Wilson acting director of Saskatchewan's drug plan.
Increasing resources at Health Canada to clear the backlog of generic drug submissions and permit the health and safety review of generics to begin more quickly.
6 billion for each 1% increase in generic drug use and that the tabloid will work to provide pharmacists with unbiased product information.
Now, they think they have finally found a middle ground: generic drugs.
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.
For the top 50 generic drug manufacturers in 2014, discover revenues and rankings.
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