Generic medication (also known as generic drug)

A generic medication is a prescription medication with the same active ingredient formula as brand-name drugs and is the same in quality, dosage, and strength.

Generics medications come to the market after a brand-name medicine’s patents expire and typically cost about 80% to 85% less than the same brand-name drug. The U.S. Food and Drug Administration (FDA) rates these as safe and effective as brand-name medications.