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“First generics” are just what they sound like—the first approval by FDA which permits a manufacturer to market a generic drug product in the United States. FDA considers first generics to be important to public health, and prioritizes review of these submissions.

On average, it takes at least ten years for a new medicine to complete the journey from initial discovery to the marketplace, with clinical trials alone taking six to seven years on average. The average cost to research and develop each successful drug is estimated to be $2.6 billion.

Once a new drug is approved, the FDA provides a guaranteed period during which a generic version cannot be approved, regardless of the time remaining on the new drug's patent. This regulatory exclusivity typically runs for at least six years for new drugs.

Generic drugs, and modern generic firms, emerged in the mid-1960s with regulatory changes resulting from the tragedy of women who used during pregnancy. The resulting legislation from this era created clear procedures for generic drugs to gain access to markets through an abbreviated approval process.

Generic drugs, and modern generic firms, emerged in the mid-1960s with regulatory changes resulting from the tragedy of women who used during pregnancy. The resulting legislation from this era created clear procedures for generic drugs to gain access to markets through an abbreviated approval process.

Once a new drug is approved, the FDA provides a guaranteed period during which a generic version cannot be approved, regardless of the time remaining on the new drug's patent. This regulatory exclusivity typically runs for at least six years for new drugs.

Generic drugs do not need to contain the same inactive ingredients as the brand name product. However, a generic drug can only be marketed after the brand name drug's patent has expired, which may take up to 20 years after the patent holder's drug is first filed with the U.S. Food and Drug Administration (FDA).

Any generic medicine must perform the same in the body as the brand-name medicine. It must be the same as a brand-name medicine in dosage, form and route of administration, safety, effectiveness, strength, and labeling (with certain limited exceptions).