when comparing generic and brand name products consumers tend to pay close attention to and compare their lists of individual ingredients most consumers believe that generics are of a lesser quality compared to brand names the quality of generic brands though is generally comparable to name brand products despite the difference in cost between name and generic brands there is little taste or nutritional difference between them some consumers may prefer generics as they re often called over name brands even if its price isn t a considering factor 
as noted above generic brands can be found in the food and beverage industry as well as in pharmaceuticals for example a supermarket may offer its own generic product say a dairy product like sour cream next to a name brand product to appeal to a cost conscious customer or a pharmacy may offer consumers a generic alternative to advil s ibuprofen generic brands may be manufactured in the same production facilities as name brand products special considerationsa generic drug or pharmaceutical may be created when a name brand drug s patent expires in the u s which is responsible for most drug patents the patent term length is 20 years there is also an exclusivity period the length of which depends on the drug type and its use once a patent ends and exclusivity is satisfied a single manufacturer is permitted to produce a generic chemically identical version of the brand name drug at the end of the generic s period of exclusivity any other manufacturer that can prove that it can achieve the same drug efficacy may make a generic version of that drug some manufacturers may even create a generic version of their brand name drug either by manufacturing it themselves or contracting it out to another manufacturer this strategy makes sense because insurance company policy often dictates that a generic when available must be prescribed generics are sold at a discount from brand name drugs often about 80 to 85 less because of competition margins on generic drugs can be very thin in 2020 it was estimated that generic drugs had saved the health care system about 2 2 trillion over the previous decade a variation of a generic brand is a private brand label also called a store brand own brand or private brand in which an item carries the brand of a store some stores offer both value and premium versions of the same private label product types of generic brandsgrocery and dollar stores are well known for their generic brands those commonly found on these retailers shelves include generic brands in pharmacies include but aren t limited to generic brands vs brand name genericssome well known name brands have become genericized this can happen when a company loses trademark protection or if a name becomes part of everyday jargon here are a few common examples 