One myth is that “brand-name drugs are made in modern manufacturing facilities, and generics are often made in substandard facilities.” But, the FDA counters with the reminder that it “won’t permit drugs to be made in substandard facilities.” And to be approved by the FDA, a generic version of a drug must deliver the same amount of active ingredients into your bloodstream in the same amount of time as the brand-name drug.
Bayer aspirin costs $6.29 at CVS, while the same amount of CVS-brand aspirin costs less than a third of that, $1.99. The two products are required by law to be “bioequivalent,” and CVS even has signs imploring shoppers to go for the cheaper option. Yet many people do no such thing. The difference in price between brand names and generics accounts for tens of billions of dollars “wasted” every year by Americans in pharmacies, according to the economics researchers.