Generic Equivalent definition

Generic Equivalent or "generically equivalent" means a drug that has an identical amount of the same active chemical ingredients in the same dosage form, that meets applicable standards of strength, quality and purity according to the United States pharmacopeia or other nationally recognized compendium and that, if administered in the same amounts, will provide comparable therapeutic effects. Generic equivalent or generically equivalent does not include a drug that is listed by the federal food and drug administration as having unresolved bioequivalence concerns according to the administration's most recent publication of approved drug products with therapeutic equivalence evaluations.
Generic Equivalent means ***.
Generic Equivalent means any (i) biosimilar of a Product or (ii) any product with the same active ingredient as a Product.

Examples of Generic Equivalent in a sentence

  • The Member must pay the difference between a Brand-Name Drug and the Generic equivalent if the Member purchases a Brand-Name prescription drug when a Generic Drug equivalent is available.

  • In addition to the Copayment/Coinsurance, if the Member chooses a Brand-Name drug for which a Generic substitute is available, the Member is required to pay the difference between the cost of the Brand-Name drug and the Generic equivalent.

  • Pay any applicable Calendar Year Deductible and Copayment or Coinsurance (as well as the Brand Additional Charge if you or your Physician choose a Brand Medication when a Generic equivalent is available) shown in your Schedule of Benefits.

  • The Member is responsible for a $25.00 copayment for each Brand Name Prescription Drug or refill listed on the Prescription Drug Formulary, plus the difference in Prescription Drug Covered Expense between the cost of the Brand Name Drug and its Generic equivalent, unless a Generic Drug equivalent is not available or a Brand Name Drug is Medically Necessary.

  • Generic equivalent drugs shall include, but not be limited to, any drug listed by the Food and Drug Administration list of therapeutically equivalent drugs as contained in APPROVED DRUG PRODUCTS.

More Definitions of Generic Equivalent

Generic Equivalent means a drug that is designated to be therapeutically equivalent, as indicated by the U.S. Food and Drug Administration’s publication Approved Drug Products with Therapeutic Equivalence Evaluations.
Generic Equivalent means: (a) a pharmaceutical product that has been approved by or submitted for approval to FDA for Marketing in the Territory pursuant to an ANDA or a paper NDA (an application under 21 U.S.C. § 355(b)(2)) as a generic equivalent to any of the NDA Products; or (b) an Authorized Generic.
Generic Equivalent means an A/B rated (as the term is used by the FDA) generic version of the Product.
Generic Equivalent means a pharmaceutical product that receives approval for Commercialization pursuant to an ANDA in the applicable portion of the Covered Territory.
Generic Equivalent or "generically equivalent" means a drug that
Generic Equivalent means any other pharmaceutical product that is an FDA AB-rated (or its foreign equivalent) generic version of a Product in the Territory, or a pharmaceutical product with the same Active Material (or therapeutically equivalent, bioequivalent, biosimilar and legally substitutable or interchangeable Active Material(s) thereto) and labeled indication(s) as a Product. A product produced by or on behalf of or authorized by Client, its Affiliates or licensors or any other authorized generic product will not constitute a Generic Equivalent.
Generic Equivalent means any product with the same active ingredient and route of administration as a Licensed Product.