A term referring
to the chemical makeup of a drug rather than to the advertised brand name under
which the drug may be sold.
3.
A term referring to any drug marketed under
its chemical name without advertising.
Generic drugs marketed without brand names are generally less expensive than
brand-name drugs, even though they are chemically identical to brand-name drugs
and meet the same standards of the FDA (US Food and Drug Administration) for safety,
purity and effectiveness. Generic drugs can be legally produced in the US if a patent
has expired, or for drugs which have never been patented. The expiration of a patent
removes the monopoly of the patent holder on drug sales licensing.
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