MLchartDataset catalogue

Generic drug

Term · Economic statistics · MLC-T-ECS-000803

Generic counterpart of a brand-name drug such that the generic drug has exactly the same pharmacological effects as the brand-name drug.

Note: Once a drug’s patent has expired, some plans provide more generous coverage for same-formula generic drugs than for brand-name drugs; the practice is adopted as a cost containment measure.

Table 1. Record
IdentifierMLC-T-ECS-000803
FieldEconomic statistics
ReferencesBLS Glossary
Record as JSON 
{
  "id": "MLC-T-ECS-000803",
  "term": "Generic drug",
  "field": "Economic statistics",
  "definition": "Generic counterpart of a brand-name drug such that the generic drug has exactly the same pharmacological effects as the brand-name drug.\n\nNote: Once a drug’s patent has expired, some plans provide more generous coverage for same-formula generic drugs than for brand-name drugs; the practice is adopted as a cost containment measure.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/generic-drug/"
}

Record 803 of 2,177 in Economic statistics terminology (MLC-0116). Request the full dataset.