ELI5: Explain Like I'm 5

Generic drug

A generic drug is a medicine that has the same ingredients as a brand-name drug, but it is sold under a different name and usually costs less. Generic drugs are usually made by companies who did not invent the original brand-name drug. They are allowed to make their own versions of the medicine by using the same active ingredient but with their own added formulas. This means generic drugs work just like the brand-name drugs, but cost less.