Common use of Generic Drugs Clause in Contracts

Generic Drugs. Drugs that (1) are approved by the Food and Drug Administration (FDA) as a therapeutic and equivalent to the Brand Name Drug, (2) contain the same active ingredient as the Brand Name Drug, and (3) cost less than the Formulary Brand Name Drug equiva- lent.

Generic Drugs. Drugs that (1) are approved by the Food and Drug Administration (FDA) as a therapeutic and equivalent to the Brand Name Drug, (2) contain the same active ingredient as the Brand Name Drug, and (3) cost less than the Formulary Brand Name Drug equiva- lentequivalent.