The cost increases for pharmaceuticals obliges our political and health care officials to attempt to contain these costs. One possible measure which must be carefully taken under consideration is to apply a policy using generic medicines which ensures the quality, efficiency and security aspects of generic medicines. In this article, the author reviews the concept and definition of what is the generic pharmaceutical specialty; the requirements necessary to comply with in order for a medication to be classified as generic; the current status of these medications in Spain; the factors regarding their prescription, dispensation and substitution for established medications; and the advantages and disadvantages of their use.