Generic medicines are quality medicines at affordable prices. Ask your doctor to prescribe a generic medicine, or ask for a generic medicine next time you take your prescription to the pharmacy.
A generic medicine is simply another brand, which contains the same active ingredient as the original brand and provides the same health benefits.
Read more about Generic Medicines here : What is a Generic Medicine?
All medicines sold in Australia, whether generic or original brand, must meet the same tough quality standards set by a government agency called the Therapeutic Goods Administration (TGA). The role of the TGA is to evaluate and verify that all prescription medicines provide an appropriate safety and performance profile.
The TGA provides information for consumers on generic medicines. You can access their fact sheet here.
Generic medicines always contain the same amount and type of active ingredient as the original brand, but sometimes they may look different from the original. Don’t be fooled by appearances. Although the shape or colour may differ, they are just as safe and effective as the original.
Generic medicines are less expensive than the original brand primarily because the generic medicine manufacturer does not have to recoup the high research and development costs usually associated with new medicines. Also, generic medicine manufacturers typically spend less on advertising and promotion, so the savings can be passed onto consumers.
Generic medicines are not less expensive because they have less active ingredient, have inferior quality ingredients or are manufacturer to a lower standard. Remember, generic medicines are assessed for quality, safety and performance by the TGA.
Increased use of generic medicines stimulates price competition, delivers savings and supports an affordable Pharmaceutical Benefits Scheme (PBS). This means Australians have affordable access to everyday medicines and savings can be reinvested to fund new medicines.
Read more about how Price Disclosure works here GBMA Price Disclosure
Generic medicines provide the same health benefits as the original brand at a lower cost. Every time a generic medicine is dispensed in a community pharmacy, the Australian economy benefits from substantial savings through price disclosure.