What is the difference between Generic and Brand Name Drugs?

The significant difference between a generic drug and brand name drug is the price. A generic drug is generally much cheaper than it’s brand name counterpart.

Essentially, a generic drug is a copy of a brand name drug with the same ingredients. It has to pass a safety profile and administration method, such as swallowed in pill or capsule form, for example. The brand made drugs are branded and created by the original company. The brand name has to be patented and approved by the FDA before it hits the market. Generic drugs cannot be traded without the consent of the company which developed the brand. Generic medicines are made once the patent life of the brand name product expires.