Perspectives First Horizon

Cheaper and Just as Effective: Why Generic Drugs Are Gaining Popularity

In many cases generic drugs are even produced in the same factory and on the same assembly line as their brand-name counterparts.

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First Horizon

Did you know that approximately half of all U.S. drug purchases are generic? Despite this statistic, some people still wonder if generics are as effective as brand-name drugs. The answer is, yes.

In the U.S., all generic drugs must meet the same regulatory standards as brand-name drugs. The FDA will not approve a generic drug unless it is safe, well-tested, and just as therapeutically effective as the brand-name version. It has to have the exact same active ingredients, strength, and dosage form. From a therapeutic standpoint, generic and brand-name drugs are virtually identical. In fact, in many cases generic drugs are even produced in the same factory and on the same assembly line as their brand-name counterparts. The only real difference between them is the name. While generic drugs have chemical names, brand-name drugs are given a name by the manufacturer.

The FDA estimates that individuals can save between 14% and 16% per day by using generics. Because they are just as effective as brand-name drugs, generics have become not just viable, but evermore popular alternatives to expensive brand-name options.

First Horizon
To see if there are generic alternatives to your prescription medication, follow these simple steps.
  1. From the Shop-Prescription Drug Finder, click on the tab called “Lower Cost Alternatives”
  2. Check to see if any of the drug options that come up are generic
  3. Print up a copy of your customized Lower Cost Alternatives Report
  4. Discuss these options with your physician