Generic medicine is a drug product that is comparable to brand/reference listed drug product in dosage form, strength, route of administrate, quality and performance characteristics and intended use. It has also been defined as a term referring to any drug marketed under its chemical name without advertising. A generic drug must contain the same active ingredients as the original formulas.
Generic drugs are usually sold for significantly lower prices than their branded equivalents. Though they are chemically identical to brand name drugs and meet the same standard of FDA for safety, purity and effectiveness.