What is the difference between brand-name, generic and specialty drugs?
HealthPartners covers both brand-name drugs and generic drugs. A generic drug is a therapeutically-equivalent drug that is the same as a brand-name drug in dosage, safety, strength, how it is taken, quality, performance and intended use. Generic drugs are less expensive because generic manufacturers don't have the investment costs of the development of a new drug. Because those manufacturers don't have the same development costs, they can sell their product at substantial discounts. Also, once generic drugs are approved, there is great competition, which keeps pricing down. Specialty drugs are unique, high cost drugs (greater than $500 per month) which are often injected and need special handling and follow up visits. Specialty drugs are identified on the formulary.
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