Generic medicines are a lower-cost version of a brand-name drug. Generics become available when the patent (or license) expires on a brand-name drug. For example, atorvastatin calcium is the generic name for the brand-name cholesterol drug Lipitor®. Generic drugs are chemically equal to the brand name drug, but don't use the brand name. They are regulated by the Food and Drug Administration (FDA), and typically cost less than brand name medicines. All generic drugs go through the same FDA testing and review as the brand-name versions.