It is commonly accepted that something that is less money is of poorer quality.
Is there a difference between brand name and generic medications?

Generic products like no name products on grocery store shelves are often characterized as being of poorer quality than the brand name product.

Generic drugs are not like no name potato chips. Generic drugs go through rigorous studies to prove that they are bioequivalent meaning that it has the same drug, same dose and same route of administration before being put on the market. The only difference between a generic and a brand name drug are the excipients. These are binder’s fillers, food coloring, or flavouring. They are not exactly the same, but they work the exact same.

Branding seems to increase the placebo effect associated with a treatment,
This is probably because people associate branding with higher quality and expect that they will work better.