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Generic drug (generic drugs, short: generics) is a drug define as a drug manufactured goods that is similar to brand/reference planned drug product in dosage form, power, route of administration, quality and performance uniqueness, and future use.

It has also been defined as a term referring to any generic drug marketed under its chemical name without promotion.

Generic price less then branded why
Generic drugs are work same as the branded medicine because both the medicines are same but the basic molecule are different and generic medicine contains the same active ingredients is used in original formulation, both branded and generic medicine are work same , so there is only one difference between generic and branded is only the price. One of the big reasons for the quite low price of generic products is that competition increases in the market among producers when drugs no longer are sheltered by patents.

The pharmaceutical Companies incur less cost in manufacturing generic products (only the price to produce, rather than the entire cost of development and test) and are then able to sustain success at a lesser price.

Generic products manufacturing company in the market
Generic are getting in very less prices and branded are in very high prices. There are many pharmaceutical company are manufacturing generic products only like zydus, cadila, Ranbaxy, Pfizer etc. This all companies are manufacturing the good products in generic form but both the same.
Generic are safe to use and it consider by the FDA approved, its identical in dose, strength, route of administration, safety, security, and its use.

Generic FDA Approved Drugs
Generic drugs is approved by the US FDA Food and Drug Administrator . The FDA requires the bioequivalence of the generic product in between 80 and 125 percent of that of the innovator product.
So there is the difference between generic.