When a new type of medicine first hits the market, it is the only one of its kind available, and consumers in need of it are forced to buy it. As a brand name, it tends to be expensive due to the research and effort that went into making the product. However, many simply can’t afford the steep prices of the brand names. Â A CNN article published earlier this year stated that in a survey conducted by Consumer Reports, it was determined that “28 percent of Americans have taken steps such as not filling prescriptions, skipping dosages and cutting pills in half without the approval of their doctor, and even sharing prescriptions with a friend.” These steps are dangerous and can be prevented with a simple question: Is there a generic product that would work just as well?
After a brand name of a medicine comes out, patent laws keep the company financially protected for some time, but generic versions follow shortly and are often much more affordable. Because of the FDA, a generic product will be as strong and as affective as a brand name product as long as the active ingredients and dosage sizes are the same. If the generic product has been approved by the FDA, a consumer should be confident that it is the same quality as a brand name product.
The classic example here is ibuprofen tablets. Advil and Motrin are both very popular brand names for a non-steroidal anti-inflammatory drug, ibuprofen. The only difference between the two products and any other product that is ibuprofen is simply the name, and possibly the dosage size. The actual composition of ibuprofen is always the same if the substance is pure; it’s a fact of chemistry.
It is wise to shop around, when possible. Consumer Reports determined that the same drug can vary up to $100 from store to store! Trying to save money on prescriptions is sometimes necessary, but one should never resort to dangerous options such as skipping prescriptions or sharing prescriptions. The best choice you can make is to ask your doctor if there are cheaper, equally affective options. The answer is often yes.
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