It is not uncommon to hear people complain about the cost of medication today. Wherever you are in the world, the price of medicine is always an issue. Of course, there are countries where medicine may be cheaper than in other places, but in general, medication comes at a price. This is especially true for those kinds of medicine that have a known brand. This is where generic drugs come into the picture.
Generic drugs are medication that have the same active ingredient as the branded medication. The main difference is that the formulation is slightly altered since the pharmaceutical company owning the patent to the medicine has the sole right to the name of the medicine. The prevailing practice in the medicine industry is that a company can file for a patent for a specific drug. This patent is only valid for a specific period of time, and when that time runs out, other companies are allowed to manufacture a generic version of the drug.
The biggest advantage to purchasing generic drugs instead of brand name ones is the price. Generic drugs are generally cheaper - much cheaper - than the branded ones. This is due to the fact that those who manufacture generic drugs do not have to spend a lot of money to do so. The research and testing was done by the patent holder, and these are the most expensive stages of developing a drug. The only thing that generic drug manufacturers have to do is make the drug!