Generic drugs are medicines that are bioequivalent to their branded counterparts. They contain the same active ingredient as their branded version and many a times even the same inactive ingredients and dosage regimen. Generic medicines cost less than their branded versions because producers of these drugs do not have to face the trail and marketing costs that are borne by branded drug manufacturers. This makes generic drugs an excellent alternative for people who want to save money because of higher healthcare costs. The FDA regularly keeps an eye on reports of any side effects that are caused by use of generic drugs. This ensures that the manufacturers of these medicines do not produce low quality drugs. There are some big pharmaceutical companies that manufacture both the branded and generic versions of a drug.

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