A generic medication is equivalent to it's brand counterpart, but is much less expensive usually. A generic drug must have the same substances, path of administration, dosage type, power, and indications as the initial brand product. Generic medicines are accepted by the U.S. Food and Drug Administration, and australia next day delivery so are deemed to be as effective and safe as the brand name product.

Generics can't be sold until following the drug patent expires on the original brand name product. For instance, generic fluoxetine could not be sold until the patent acquired expired on the brand equivalent Prozac. A drug average retail price producer applies for a patent to protect their medication from getting copied and marketed by another company and losing profits.

Patents expire 20 years from the time of filing typically. During this period of patent protection, only the original manufacturer can study, develop and sell the brand medication. When the patent expires, other producers can post an abbreviated new drug application (ANDA) to the FDA for authorization to advertise the generic version.

Generic drugs have lower research costs and improved market competition and the ones substantial savings are offered to the individual. However, generic drugs still must meet stringent FDA requirements regarding quality, performance, labeling, developing, and bioequivalence. For legal reasons, generic drugs will need to have the same active ingredients as the brand name product, and they can be expected to have the same effect when used price in usa place of a brand name drug.