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What are generics?

What are generics? Here are some definitions.

Noun
  1. plural of generic
  2. (computing) The use of templates etc. to create generic source code that can be used in many situations.
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Examples
So what I'm asking is, are generics truly equivalent to the brand-name drugs?
But should they forgo profits in order to develop the Brazilian generics industry?
Many, it contends, are little more than dubious efforts by brand-name companies looking to prevent competition from generics.
But donations of branded drugs actually cost donor countries four times more than buying generics.
Exclusion of generics will help consolidate the brand-name cartel and result in substantial waste of fund resources.
Although the FDA maintains that generics are identical to their brand name counterparts, scores of readers have reported problems.

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