By law and regulatory standards, a generic drug must be “bioequivalent” to its brand-name counterpart. Bioequivalence means that the generic delivers the same amount of active ingredients into a patient’s bloodstream in the same amount of time as the original drug. Generic refers to the members of a whole class of things — like tissue, a generic word for any soft, thin piece of paper that's good for wiping runny noses. Generic refers to the members of a whole class of things — like tissue, a generic word for any soft, thin piece of paper that's good for wiping runny noses. A generic product, whether it's a tire or donut or drug, is typical of all other products like it. There's nothing distinctive or unique about it. Wondering about generic vs. brand-name drugs? We explain the main differences, whether generics are less effective, and how to know which is best for you. GENERIC definition: 1. shared by, typical of, or relating to a whole group of similar things, rather than to any…. Learn more. The meaning of GENERIC is relating to or characteristic of a whole group or class : general. How to use generic in a sentence. 6. any product, as a food, drug, or cosmetic, that can be sold without a brand name. GENERIC meaning: 1. shared by, typical of, or relating to a whole group of similar things, rather than to any…. Learn more. Generic drugs usually cost less than brand-name drugs, even though they contain the same active ingredient and work the same way. One reason is that generic manufacturers do not have to repeat the extensive clinical trials that established the brand-name drug's safety and effectiveness. Generic drugs are allowed for sale after the patents on the original drugs expire.