Cindy Preston, FNHA Health Benefits Pharmacist
You may have had a conversation around your dinner table about generic drugs or heard the opinions of parents, siblings, aunties, or friends on the subject. Many of us have. Are generic drugs effective and safe? Are brand name drugs better? The 'generic vs. brand name' drug debate is a hot topic and one that is often not fully understood.
At the FNHA, we are committed to providing safe, effective and cost-effective medication. As FNHA Pharmacist lead, I would like to support you in sharing some facts about the issue for an informed discussion to the topic.
There are a lot of misconceptions about the differences – and similarities – of brand name and generic drugs. We would like to clarify some common misconceptions and share some facts with you.
• Both generic and brand name drugs contain the same active medicinal ingredients and are equally safe and effective.
• Both generic and brand name drugs are rigorously tested for quality, safety and effectiveness by Health Canada.
• Brand name drugs are not better because they are more expensive. Brand name drugs are more expensive because of investments made in research, development and marketing (branding) – which increases pricing by 30 to 40 percent.
• A generic drug is a legal copy of a brand name drug. The generic drug costs less because it requires reduced investment in research and marketing.
• Generic drugs are commonly used by all Canadians.
The FNHA provides a combination of brand name and generic drugs. In 2014/2015 the FNHA had $67 million dollars in expenditures on pharmaceutical drugs. The funds FNHA saves by dispensing generics is used to augment other health and wellness programs we provide. We hope you'll join us in sharing some of this information about prescription drugs with family and friends the next time the topic surfaces – and we can dispel some misconceptions together.
