By Dr. Kevin Ward
The FDA defines a generic drug as “a drug product that is comparable to a brand listed drug product in dosage form, strength, route of administration, quality and performance characteristics and intended use.” Generics are considered identical in dose, strength, route of administration, safety, efficacy, and intended use.
For a variety of reasons set out below, generic drugs are usually sold for significantly lower prices than their branded equivalents. Consequently generics have an appeal that is applicable to public and private healthcare systems in both developing and mature economies. The breadth of this appeal has resulted in massive growth in the generic sector.