Interesting Facts about Generic Drugs in US
Posted On : 14 September, 2013
FDA has shared very interesting Infographic with overview of the generic drug market in the US:
- Now days, approx 8 in 10 prescriptions filled are for generic drugs in the United States.
- The use of generic drugs is expected to grow over the next few years as some popular drugs come off patent through 2015.
- All FDA approved Generic Drugs must be equivalent to the brand name drugs.
- Average costs of generic drugs are 80 to 80% lower than the brand name drugs.
- Generic Drugs are cheaper than Brand Name Drugs; it does not mean they are of low quality.
- FDA monitors adverse events reports for generic drugs.