GLOSSARY: Generic Pharmaceutical

Generic Pharmaceutical, generic drug, or generics, refers to a drug which is produced and distributed without patent protection. The generic drug may still have a patent on the formulation but not on the active ingredient. According to the U.S. Food and Drug Administration (FDA), generic drugs are identical or within an acceptable bioequivalent range to the brand name counterpart with respect to pharmacokinetic and pharmacodynamic properties. By extension, therefore, generics are considered (by the FDA) identical in dose, strength, route of administration, safety, efficacy, and intended use.