 | Kent Richardson graduated from the University of Kansas School of Pharmacy in 1972. Kent has owned and operated Richardson's Pharmacy, a retail independent pharmacy, and Richardson's Medical, a Durable Medical Equipment and Oxygen company in Wichita, KS since 1973. He also owns Custom Rx, Inc., a compounding only pharmacy in Wichita, KS. Since 1988, Kent has served on the Board of Directors of PACE Alliance, the largest retail pharmacy-buying group in the United States, and is currently Vice Chairman of that organization. He has also served as President and Chairman of the American College of Apothecaries, an international professional association of pharmacists, and has served on their Board of Directors for 14 years. Kent holds memberships in the National Community Pharmacists Association, American Pharmaceutical Association and the Kansas Pharmacy Association and has served and is still serving on various committees for these organizations. His employment history includes serving as Marketing Director for a regional Prescription Benefit Management Company (PBM) for twelve years. For the last seven years he has been instrumental in the development of Right Choice Pharmacy, a totally unique concept in the cost-effective provision of maintenance prescriptions via community pharmacies. You can reach Kent Richardson at Richardson's Custom Rx Pharmacy (316) 721-2626 located at 3510 N. Ridge Rd. in Wichita, or visit their website at www.customrx.net |
Pharmaceuticals
2004-10-01 14:42:00
Brand names vs. generics
: What is the difference between generic and brand-name drugs?
ANSWER: When a product is listed under the brand name, which is the name under which the product was originally sold, it means that the brand-name is protected by a patent for up to 20 years. When the patent expires, other manufacturers can produce the generic equivalent of the brand and sell it under its generic, or chemical, name. Generic drugs are made with the same active ingredients and are available in the same strength and dosage form as equivalent brand-name products. Each generic drug is laboratory tested to ensure that the same amount of drug will be absorbed into the bloodstream as with the brand-name drug. The difference is really only in the name, and in the price. Often, you can save as much as 90% over the cost of brand-name medications. Generics average 40-60% less than brand-name drugs. Currently, nearly 45% of all prescriptions in the US are filled using generic drugs. Increased savings through the use of generics could free up considerable income for the elderly, many of whom are on fixed incomes, as seniors represent over 20% of the US population and the average person over age 65 uses more than three prescriptions monthly. Generics have been shown to be as safe as brand-name drugs for the elderly as well as for children.In 1997, up to 80% of generic drugs approved by the FDA (Food and Drug Administration) were manufactured by companies that also make brand-name drugs. The US government strictly regulates the manufacturing process of all drugs, and all manufacturers meet the same standards. The FDA inspects drug manufacturers and recalls any marketed products that do not meet production standards. Since 1984 no generic drug has been approved in the US unless it has been shown to have the same amount of active drug absorbed at the same rate as the brand-name drug. The American Medical Association, the largest organization of medical doctors in the US, states that generic drug products are acceptable for use by the American public. Most hospitals routinely use generic drugs for treatment of their patients. Ask your physician or pharmacist if any of the prescription medications you are currently taking can be filled with a generic alternative. By using generic drugs whenever possible, you can reduce your prescription drug costs while maintaining the same strength, dosage and quality as the brand-name drug.
