Generic Drug Prices
Generic drug prices are typically lower than their brand-name counterparts. This is partly because of the competition among the various manufacturers of generic drugs. In order to sell their product, these companies have to compete with each other through consumer pricing. The other reason that generic drugs are priced lower is the mistaken belief of many consumers that brand-name drugs are somehow better. In order to attract attention away from brand-name drugs, manufacturers of their generic counterparts must offer attractive pricing.
Legally, generic drugs must be chemically equivalent to the brand-name version--â€œIdentical or bio-equivalent,â€? according to the FDA. Strength, dosage, method of consumption and safety of the generic drug must also be identical. This means there is no actual difference between a generic drug and a brand-name drug. The only thing that may be different is the price. Ask your doctor or pharmacist if the generic alternative is right for you.
Generic Drug Prices Are Competitive
A drug can be generically manufactured when the original patent on the brand-name version expires. This typically happens between seven and 12 years after a drug is first introduced to the market. Right now, there are approximately 10,000 generic drugs that have been approved by the FDA.
The PS Card provides discounts of up to 50 percent on both generic and brand-name drugs--and discounts for generics are higher than discounts for brand-name drugs. Because generic drug prices are usually much cheaper, using the PS Card to buy them can translate into big savings for you. Browse our web site to find out if a generic version of your medication is available. Then, print out your PS Card right now and go talk to your pharmacist about it. You can probably start saving today on generics with your PS Card.