“You get what you pay for.” We’ve all heard, and probably repeated, that old adage more than once.  It’s a saying that, for the most part, rings true. So when it comes time to picking cheaper generic  medications over more expensive brand-name drugs, is this old proverb still accurate? 

The short answer to that question is simply, “no,” but here’s why. 

Generic medications must, according to the Food and Drug Administration (FDA), contain the same pharmological effects as their brand-name counterparts. In English, this means that they must offer the same positive results, while also having the same side effects. They are, essentially, the same exact thing.  The companies that make the generic versions of drugs must meet the same FDA standards as the companies that produce the brand-name equivalent. It’s the law. 

So, how can one company sell it for so much less? Well, when a new drug goes on the market, the manufacturer has to spend a lot of money on the research, development and marketing of the new drug. A patent is then granted to that company for the right to sell that drug exclusively for as long as the patent lasts. It’s their chance to charge more for the drug to help offset all the upfront research and marketing costs. Once that patent expires, other companies can begin producing the generic version— without all the costs that come with launching a new drug. That is why you will see a significantly reduced price. 

We always recommend asking your doctor if there is a generic version of your prescription.  The only real side effect involved, is saving more money!