In 2004, over $20 billion could have been saved if more people had selected generic drugs over their more costly brand name cousins.
Why are brand-name drugs more expensive?
Extensive drug testing and marketing costs are built into the price of brand-name drugs, and that cost is passed onto the consumer. Since generics aren’t developed from scratch (they’re based on the brand-name versions) they are cheaper.
The FDA approves all generic drugs and holds them to the same high standards as the brand-name versions. Ask your doctor if there is a generic version of the brand-name prescription you are taking. Your medicine will have the same effect, and you’ll save on the prescription co-pay at your next trip to the pharmacy.
Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.
|Jennifer Mathes, Ph.D.|