It’s no secret that many prescription medications can put a strain on your wallet. Drug companies spend billions of dollars researching and developing new medications, and that means they often charge exorbitant amounts for their drugs. All drugs are patented, but eventually drug patents expire. That means other companies can make drugs that are identical to the brand name drugs, except they’re often sold at a significantly lower price.
Because they’re much more inexpensive than brand name drugs, generic drugs are popular in the U.S. In fact, the U.S. Food and Drug Administration (FDA) says that nine out of 10 prescriptions filled in America are for generic medications. In addition, the FDA requires that all generic drugs work exactly the same as their name brand counterparts, including dosage, safety, effectiveness, strength, stability, and quality. That helps ensure that there’s no reduced efficacy or new health risks associated with generic medications.
If you’re interested in purchasing a generic version of any of the medications you’re taking, it’s important to ask your doctor or pharmacist about the option before you fill your prescription. New medications generally don’t have generic alternatives due to their patents still being enforced. However, most older medications have generic equivalents.
Whether you’re taking a brand name drug or its generic counterpart, it’s important to be mindful of side effects and potential drug injuries. If you or someone you love suffered a serious adverse health event after taking an over-the-counter or prescription medication, the drug injury lawyers at Ferrer Poirot Feller Daniel want to help. Call us today for a free consultation.