LIVE VIDEO:

Why brand-name drugs are more expensive than generic drugs

Generic drugs may look different from their more expensive brand-name counterparts, but they have the same effect, says Dr. Rich Besser, ABC chief health and medical editor.

Generics are cheaper because they are without the costly research and legal patents in brand-name drugs.

Some customers continue purchasing brand-name drugs when generics are available, but Besser says there's no need. Generics may look a bit different, with a different capsule or color, but the drug is the same. "Different bottle, different price, same effect," Besser says.

For more health tips and insights, follow Besser on Twitter.