Generic drugs are the chemical equivalent of brand name drugs and have to meet bio-equivalancy standards-that means that have to reach the same blood levels in testing-for you non-medical readers.  Does that mean they are equal-well yes and no.  Equal when discussing generic drugs means that are within an expected range of equivalancy on testing-doesn’t have to be  exactly equal.

So why am I raising this old argument today, in my blog about personal finance.  My wife just mentioned to me a discussion at work among her nursing co-workers.  They were talking about cold/flu meds they were purchasing for themselves and their families. Yes H1N1 is here too.

My wife, who makes me look like Donald Trump when it comes to pinching pennies, was shocked at how most of her colleagues spent extra money on brand name over the counter medications.

They were buying brand name Tylenol, instead of acetaminophen, brand name Robitussin instead of the generic or store brand variation-frequently at a 50 % increase in cost.

So is buying name brand when it comes to your OTC medications worth the extra money? NOOOOOOO.

Maybe if you are on Digoxin(heart medication)  and your cardiologist warns you to get the brand name, maybe I can agree.  But with aspirin or cold meds, save your money.  You feel lousy enough if you are having to buy something for your cold - don’t go blowing your budget.

Now sometimes for non-medical people, it may be hard to tell what is what when reading labels.  The secret is reading the active ingredient list and the amount of medication (usually in mg’s).  As long as the active ingredient and the amount of the two products is equal, then compare the price.  Just like buying cereal.

So don’t let your stopped up head affect your brain and your bank account.  When you have to buy over the counter meds, go with the generic, and spend your savings on a movie or book to help you feel better.

Let me know what you think about the generic versus brand name argument.