Generic drugs are copies of brand-name drugs that have exactly the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. In other words, their pharmacological effects are exactly the same as those of their brand-name counterparts.

Generic drug: The term "Generic" has several meanings as regards drugs: The chemical name of a drug. A term referring to the chemical makeup of a drug rather than to the advertised brand name under which the drug is sold. A term referring to any drug marketed under its chemical name without advertising.

They have the same active ingredients, and the manufacturing and packaging must pass the same quality standards. The U.S. Food and Drug Administration (FDA) requires generic drugs to have the same performance and quality as brand name drugs.

Cost is the main difference between generic and brand name prescription drugs. Generic makers don't face the same costs as manufacturers of brand-name drugs. That's because the brand-name maker often invented the drug, a process that can cost hundreds of millions of dollars. That is an enormous economic advantage for these companies, which is why their drugs can be much cheaper.