Over 90% of all prescription medications in the U.S. are generics, according to the FDA — and that number is only expected to rise.

Compared to their name-brand counterparts, generic medications cost an average of 80-85% less.

For millions of patients, they offer a more affordable, accessible, and available means of getting treatment.

Many pharmacies, especially independent pharmacies, opt to offer generics instead of name-brand medications so you can get the treatment you need without the added cost.

Despite their availability, though, many patients remain unsure about how generic medications stack up against brand-name drugs.

Here, we’ve broken down everything you need to know so you can understand the key differences. Read on to learn all about generic medications:
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What is a Generic Medication?

A generic medication is a replica of a brand-name drug, containing the same active ingredient and providing the same therapeutic effects as the original.

The main difference between the two? The price tag.

Generics are significantly less expensive than brand-name medications, but aside from the price, the medications are fundamentally the same.

Generally, you can find both options on the shelf.

For instance, ibuprofen is the generic form of Advil and Motrin, while acetaminophen is the generic equivalent of Tylenol.

Other generics for brand-name medications include:

• Lipitor > atorvastatin
• Zoloft > sertraline
• Prozac > fluoxetine
• Nexium > esomeprazole
• Prilosec > omeprazole
• Zocor > simvastatin
• Ambien > zolpidem
• Glucophage > metformin
• Allegra > fexofenadine

How Do Generics Compare to Brand-Name Drugs?

Before a generic drug hits the market, it undergoes an extensive approval process by the FDA — just like brand-name drugs.

In the approval process, the generic is weighed against the brand-name to ensure the two match across several key categories:

• Active Ingredient: The core ingredient responsible for the generic’s therapeutic effect must be identical to the brand name.
• Strength, Dosage, and Administration: Generics must offer the same strength, dosage form, and method of administration as the brand-name version.
• Safety and Efficacy: Generics are required to meet the same safety and efficacy standards as their branded counterparts.
• Manufacturing Standards: Both generic and brand-name drugs must meet the same quality control standards.

Though generics must be therapeutically equivalent to brand-name drugs, they may have cosmetic differences —- like size, shape, color, and inactive ingredients like fillers or dyes.

Usually, these differences don’t affect the drug’s performance.

However, it’s worth noting that some patients may be sensitive or allergic to certain inactive ingredients in one version but not the other.

Why Are Generics More Affordable Than Brand Name?

It’s a common misconception that the lower cost of generic medications means they are inferior in quality. The price difference actually stems from two main factors:

• Lower development costs: Brand-name drugs require extensive research, clinical trials, and marketing efforts, all of which are costly. Generic manufacturers skip these expensive steps by replicating an already approved drug. In the process, they can offer the same medication at a lower price.

• Market competition: Once the patent on a brand-name drug expires, other manufacturers can produce and sell generic versions, creating competition that drives down prices.

When you see a generic medication, then, you can be sure that you’ll get the same drug without the added price.

How Can I Find Out If a Generic Is Available for My Medication?

Hundreds of brand-name medications have generic alternatives.

To find out if yours does, talk to your pharmacist. They can check the current availability of your medication and provide alternatives.

The FDA also maintains a searchable database called the FDA’s Orange Book, which lists approved generic medications.

You can use this database to find information about generic versions of specific brand-name drugs.

Finally, consult your insurance provider. Some insurance plans may have specific lists of covered medications, including generics, that you can reference.

Can My Pharmacist Switch My Prescription to a Generic?

In most states, pharmacists are permitted to substitute a generic for a brand-name drug unless your doctor has specified otherwise.

However, some drugs, particularly those with a narrow therapeutic index (NTI) — which require precise dosing and close monitoring — might not be substituted without first consulting your healthcare provider.

If you’re uncertain whether you can switch to a generic, talk to your local pharmacist.

They can review your options with you and, if necessary, consult with your healthcare provider to get you the medications you need at a price that fits your budget.

For more cost-saving options, read our blog, 7 Ways to Save on Your Prescription Medications.

Is It Safe to Switch from a Brand-Name to a Generic Drug?

Generally, yes.

Since generic drugs are bioequivalent to their brand-name counterparts, switching is usually straightforward and safe.

However, if your medication falls into the NTI category or if you have specific concerns, consult your healthcare provider — and your pharmacist — before making the switch.

Will My Insurance Cover Generic Medications?

Insurance plans vary, but many insurers prefer to cover generic medications due to their lower cost.

In some cases, they may only cover the brand-name version if no generic is available — which means that if you’re in the market for a generic medication, you’re probably in luck.

Check your insurance plan’s formulary to see how generics are covered and compare co-pays.

In addition, talk to your pharmacist about medication costs and coverage so that you can choose the most cost-effective options.

Conclusion

Choosing a generic medication can be a great way to manage healthcare expenses, especially as independent pharmacies prioritize offering generics to help you save money.

It’s just one of the reasons to love your local pharmacy.

If you’re ever unsure about switching to a generic, your pharmacist and healthcare provider can answer questions, offer guidance, and point you to the right path.

Don’t have a local pharmacy, or looking to switch to a new one?

RxLocal’s Pharmacy Finder can help you find highly rated independent pharmacies in your area — who can help you cut down on prescription costs and maximize your medications.

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