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generic drugGeneric equivalent Pharmacology A drug that is no longer under patent protection, which may be produced by any manufacturer who follows good manufacturing protocols. See Drug monograph, 'Me too' drug.
ge·ner·ic drug(jĕ-ner'ik drŭg)
generic drugA drug sold under the official medical name of the basic active substance. The generic name is chosen by the Nomenclature Committee of the British Pharmacopoeia Commission and is used in publications such a the British National Formulary . Doctors are encouraged to prescribe generic drugs as these are generally cheaper than the same drug under a trade or brand name.
Patient discussion about generic drug
Q. When will a generic brand of insulin be available? The cost of insulin seems to be way too high... And with the ever rising population of diabetics, you'd think some other companies would jump unto the bandwagon with a cheaper insulin... what's up with that?