What is the difference between generic and brand name medication?

Answer 1

A name brand drug is one that the manufacturer has researched and acquired a patent for. A generic drug is one whose patent has expired and is being made by companies other than the one who earned the original patent.

Answer 2

A generic name refers usually to the name of the chemical active agent in a certain drug, while brand name refers to a specific product made by a specific company etc., and is likely to be a patented combination that still contain that active chemical.

For example:

Generic Name: Paracetamol

Brand Name could be: Panadol, Paracetol, Apmol, etc. All of which do contain that active agent (Paracetamol) but present it in a different product with a different chemical mixture.