Why generics are important
Simply put, generic medicines provide the same health benefits, safety and effectiveness as the original brand of a medicine and can provide significant cost benefits to consumers and healthcare systems.
Better Value
Generic medicines may offer patients better value. Choosing a generic medicine will result in cost savings if the original brand of the medicine has a ‘Brand Price Premium’.
Equivalent to the original brand
Generic medicines have proven equivalence to original medicines and have been evaluated and approved by the Australian Government.
Supporting the Australian Healthcare System
Generic medicines support the Australia healthcare system. By providing more affordable medicines, resources can be freed up for other healthcare areas, and with the cost benefits, more medicines can be made accessible to a wider range of patients.
Key facts about generic medicines
- Generic medicines are an equal choice. Generic medicines contain the same active ingredient, in the same strength and dosage form (i.e. tablets, liquids or, capsules) as the original brand of medicine.
- Generic medicines are bio-equivalent. This means they have the same effect on the body as the original brand of medicine. Their equivalence to original medicine is proven.
- Patient care is not compromised by using generic medicines. Generic medicines must meet strict standards set by the Australian Government (Therapeutic Goods Administration). These strict manufacturing, quality and safety standards apply to both generic medicines and original medicines.
- Ageing population and changing lifestyle patterns are together putting increasing strain on our healthcare systems. Generic medicines support the healthcare system by providing significant savings. Using high quality generic medicines also frees up funds for new innovative and expensive medicines.
- Generic medicines can save patienst money. If an original brand of medicine has a "Brand Price Premium" patienst will pay higher price for that original medicine. By choosing a generic medicine, patients will save money.
