Generic Drug: A 'twin' to a 'brand name drug' once the brand name company's patent has run out and other drug companies are allowed to sell a duplicate of the original. Generic drugs are cheaper, and most prescription and health plans reward clients for choosing generics.

 

Related Words

Generic Drug: A 'twin' to a 'brand name drug' once the brand name company's patent has run out and other drug companies are allowed to sell a duplicate of the original. Generic drugs are cheaper, and most . . . View Full Definition

Generic Advertising And Promotion: The promotion of a particular commodity without reference to a specific producer, brand name, or manufacturer. Because individual producers of nearly homogeneous agricultural commodities can . . . View Full Definition

Generic: A trust in which a principal amount is placed in a trust on the death of person A and is transferred to A's grandchildren when A's children die. The income from the trust goes to the childre . . . View Full Definition

Food And Drug Administration (FDA): An agency within the Public Health Service of the Department of Health and Human Services. FDA is a public health agency, charged with protecting consumers by enforcing the Federal Food, Dru . . . View Full Definition

Generic Certificates: Commodity certificates used by the CCC in the 1980s to meet payment obligations and simultaneously dispose of commodity inventories.

Federal Food Drug And Cosmetic Act (FFDCA) Of 1938: P.L. 75-717 (June 25, 1938) is the basic authority intended to ensure that foods are pure and wholesome, safe to eat, and produced under sanitary conditions: that drugs and devices are safe . . . View Full Definition

Prescription Drug: A drug that has been approved by the Federal Food and Drug Administration which can only be dispensed according to physician's prescription order.

Generic Substitution: The dispensing of a drug that is the generic equivalent of a drug listed on a pharmacy benefit management plan's formulary. In most cases, generic substitution can be performed without physi . . . View Full Definition

Prescription Drug Benefits: Typically a provision included in a group health plan designed to provide covered employees and their dependents with payment assistance for medically prescribed drugs.

Drug Utilization Review (DUR): A review program that evaluates whether drugs are being used safely, effectively, and appropriately.