On average, generic products cost around 30% less than their brand-name counterparts. Do you get lower quality in return? Not necessarily, although it depends on the industry. Take food, for example. Many brand-name companies use their expertise and equipment to make generic-label products as well. Think brand names taste better? The packaging may actually induce a placebo effect, making you think a brand-name product is tastier than the generic when there is no real difference. Drugs are a different story. The FDA requires brand-name and generic drugs to be identical in their effectiveness. This means generic drugs have the same active ingredients, strength, dosage form, and route of administration as the brand-name product. The inactive ingredients that vary include components that make up the flavor, coating, and coloring.
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Key Facts In This Video
Many large brand-name manufacturers also produce generic-label products as well. 00:15
The placebo effect can be quite strong when it comes to generic-labeled versus brand-name-labeled foods. 01:30
Some studies show that people are more likely to stay on course with medication if the drugs are generic. 02:21