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Generic drugs are medications that are created to be the same as brand-name drugs in terms of dosage, safety, strength, route of administration, quality, performance characteristics, and intended use. Once the patent protection for a brand-name drug expires, other manufacturers are allowed to produce and sell generic versions, typically at a lower cost. Generic drugs must be approved by regulatory authorities, such as the U.S. Food and Drug Administration (FDA), which ensures that they meet the same rigorous standards for quality and efficacy as the original brand-name product.
The affordability of generic drugs makes them a vital part of healthcare systems worldwide, offering patients access to essential medications at reduced prices. This cost-effectiveness helps in reducing the overall healthcare expenditure for both individuals and governments. Despite the lower prices, generic drugs contain the same active ingredients and deliver the same therapeutic benefits as their branded counterparts, making them a trusted and widely used option in modern medicine.
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