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Generic drug is a medicine which is chemically equivalent to a brand-name product, but available under its generic chemical name. Generic drug is identical, or bio-equivalent to its branded drug equivalent in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. It is manufactured by the certified producer but not by the original drug’s producer. Generic drug can be issued when the brand-name equivalent’s patent expires. Upon original medicine’s patent expiration any pharmaceutical company can obtain a right on its production and purchase a chemical formula.

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