Generic Medication definition

Generic Medication means a medication that has the same active ingredient as a Brand Medication or is identified as a Generic Medication by AvMed’s Pharmacy Benefits Manager.

Generic Medication means any US Food and Drug Administration (“FDA”) approved, chemically identical, reproduction of a Brand Name Medication for which the patent has expired. A Prescription Medication must have a price at least twenty percent (20%) lower than the Brand Name Medication in order to qualify as a Generic Medication for reimbursement purposes.

Generic Medication means a medication identified by its chemical, proprietary, or non‐proprietary name, that is readily available to pharmacies for dispensing from three or more of the non‐affiliated top ten national manufacturers and either (i) is substitutable for a drug under state law or (ii) if not addressed by state law, is accepted by the U.S. Food and Drug Administration as therapeutically equivalent and interchangeable with drugs having an identical amount of the same active ingredient. Generic Medications are no longer protected by patent. GLO means the General Land Office. Employees of the VLB are considered employees of the GLO, and the terms “VLB” and “GLO” are used interchangeably throughout these Guidelines. HHSC means the Texas Health and Human Services Commission, successor agency to the Texas Department of Aging and Disability Services (“DADS”). HPDSC Veteran or Higher Per Diem Service Connected Veterans means any Eligible Veteran Resident whose SCD rating is seventy percent (70%) or higher.

Examples of Generic Medication in a sentence

• The VA Formulary lists medications by the Generic Medication name.

• Operator must use the VA Formulary, unless (i) prescription medications are received with proper justification documenting the clinical, therapeutic need for the Brand Name Medication, or (ii) a Generic Medication equivalent is not available or does not exist.

More Definitions of Generic Medication

Generic Medication means a Prescription Medication that is equivalent to a Brand-Name Medication and is listed in widely accepted references (or specified by Us) as a Generic Medication. For the purposes of this definition, "equivalent" means the FDA ensures that the Generic Medication has the same active ingredients, meets the same manufacturing and testing standards, and is as safe and as effective as the Brand-Name Medication. If listings in widely accepted references are conflicting or indefinite about whether a Prescription Medication is a generic or Brand-Name Medication, We will decide. Mail-Order Supplier means a mail-order Pharmacy with which We have contracted for mail-order services.