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When a drug company develops a new drug, they give it a brand name and obtain a patent for it from the United States government. The patent gives the drug company the exclusive right to make the brand name drug for a certain period of time. This allows the drug manufacturer to earn back the money they invested in developing and testing the drug.
Once the patent expires, other drug companies can apply to the FDA to sell their version of the same drug. These versions are called generic drugs, and they are often less expensive than the original. People trying to save money on their prescriptions may want to consider talking with their doctor to see if the generic version of a drug would be all right for them to use.
All drugs sold in the United States must be approved by the FDA regardless of whether they are brand-name or generic, so consumers can be sure that the drugs they take have been approved by a federal agency. For more information on generic drugs, You can visit the web sites listed below.
Note: Links to web sites produced by organizations other than the Virginia Department for the Aging (VDA) are provided for your convenience. When you select one of these links, you will leave VDA's web site. VDA is not responsible for the content of linked web pages, and does not endorse products or services that may be offered on the linked pages. Also, the privacy policies of these sites may differ from the privacy policy followed by the Department for the Aging. Please report incorrect or outdated links to VDA's Web Designer.
