Generic and Brand Name Drugs: Understanding the Basics

August 3, 2016

A brand name drug is a medicine that’s discovered, developed and marketed by a pharmaceutical company. Once a new drug is discovered, the company files for a patent to protect against other companies making copies and selling the drug. At this point the drug has two names: a generic name that’s the drug’s common scientific name and a brand name to make it stand out in the marketplace. This is true of prescription drugs as well as over-the-counter drugs. An example is the pain reliever Tylenol®. The brand name is Tylenol® and the generic name is acetaminophen.

Spotlight

Novel Laboratories, Inc

Founded in December of 2006 by industry veteran, Dr. Veerappan Subramanian, Novel Laboratories, Inc. is a full-service pharmaceutical company that develops, manufactures, markets and distributes niche and difficult to develop new and generic technology-based drug products to the US and European markets.

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