Generic drugs are prescription drugs that have the same active ingredients as their brand-name counterparts. Generics work like brand-name drugs in dosage, strength, and performance. They also meet the same quality and safety standards as brand-name drugs.
When a patent protection for a brand-name drug expires, generic versions of the drug can be approved for sale by the U.S. Food and Drug Administration. Since generic drug makers don’t develop a drug from scratch, the costs to bring the drug to market are lower.