Are brand-name medicines ‘better’ than their generic counterparts?

Any Australian who has filled a prescription at their local chemist will have been asked if they want a branded product or the generic version.
And with the cost of living continuing to rise and Aussies looking to cut costs wherever possible, asking for the generic version could save consumers money.
But are generic versions of common medications as safe and effective as their brand-name counterparts? 
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What is a generic medicine?
According to the Australian Therapeutic Goods Administration (TGA), a generic medicine is an additional brand of an existing medicine containing the same active ingredient as the existing medicine.
Generic brands must also be ”bioequivalent” to their brand-name counterparts, meaning “if you take the same dose of a generic medicine as an existing medicine, the same amount of active ingredient is absorbed by your body over the same period of time”.
Bioequivalence is demonstrated through a “bioavailability” study, which compares how the generic and brand-name medications are absorbed when taken by volunteers.
Are generic drugs safe?
In short, yes.
In long, generic medications are just as safe as branded counterparts because they go through the same testing and approval process.
“Generic medicines require the same rigorous requirements to ensure that they meet the standard of safety and quality medicines as set by the TGA,” Vice President of the Pharmaceutical Society of Australia’s NSW Branch Lily Pham told 9news.com.au.
If the generic version of a medication has been approved by the TGA, it is safe.
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Which medicine is better, generic or branded?
Since generic medications are required to be bioequivalent to their branded counterparts, neither one is technically “better”.
From a financial standpoint, however, generic options tend to be more affordable.
For example, a pack of 20 Panadol Tablets costs $4.50 at Coles, while a 20-pack of the Coles-brand Paracetamol Caplets are just $0.80.
Both contain 500mg of the active ingredient paracetamol, but the brand-name version is more than five times more expensive.
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Is there really a difference between generic and name-brand medication?
There can be some differences between the inactive ingredients or “excipients” included in generic versus brand-name medications.
“Inactive ingredients do not affect how well the medicine works, but may effect the taste, colour, dispersibility or crushability of a medicine,” Pham explained.
What are the disadvantages of generic medication, if any?
Individuals may feel there is a disadvantage to using a generic version of a medication if it includes inactive ingredients that don’t suit them.
“Common inactive ingredients or excipients, such as lactose, gluten and gelatin, may need to be considered when selecting a brand, particularly if you have an dietary or religious requirements,” Pham said.
Why are generic drugs cheaper than brand-name drugs?
Brand-name medicines can be more expensive than the generic version because the companies that produce brand-name versions often invest more money into discovery, development, and/or marketing the drug.
These costs are then reflected in the price consumers pay for the medication.
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Can I switch from a brand-name drug to a generic version?
It’s generally safe to switch from a brand-name medicine to its generic counterpart, provided you discuss any potential effects with your pharmacist or doctor.
They can look at any allergies, intolerances, dietary or religious requirements you have and suggest a generic medicine brand or formula that will work for you.
For example, a drug that does not include lactose as an inactive ingredient for a person who is lactose intolerant, or a gluten-free formulation for a person with coeliac disease.
Are there any medications that are better known as brand-name drugs than generic versions?
Because the brand-name version of a medication is often the first one introduced to the market, these names can become synonymous with the name for the medicine’s active ingredient.
For example, the active ingredient in Panadol is paracetamol but most Australians refer to all medications with paracetamol as the active ingredient as “Panadol”.
“Brand names are also generally a lot easier to remember and pronounce,” Pham added.
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