A generic medication is a medication which is manufactured by a company which was not the innovator. Due to expired patents on certain medications, other manufacturers are allowed to produce and sell the generic equivalent medication at a lower, more competitive price. A generic medication is bio-equivalent, meaning it contains the equivalent active ingredient, to the brand name medication. Due to strict regulations for the generic drug industry, these drugs must provide the same therapeutic effect as the brand name medication. However, there may be some variation to the size, shape and color of the medication.