What is a generic?
A generic is a pharmaceutical product that contains the same active ingredient, dosage form, strength, route of administration, and intended use as an already approved brand-name drug. Generics must demonstrate bioequivalence, meaning they deliver the same amount of active substance into a patient’s bloodstream in the same timeframe. Unlike biologics and biosimilars, generics are typically small-molecule drugs and are less complex to manufacture.
Why are generics important in healthcare?
Generics provide cost-effective alternatives to brand-name medications, increasing access to treatment and reducing healthcare expenditures. Once the patent on a brand-name drug expires, generics can enter the market and create competition, often resulting in substantial price reductions. For payers, providers, and patients, generics play a key role in supporting the sustainability of healthcare systems without compromising clinical efficacy or safety.
