Specialty drugs or specialty pharmaceuticals are a recent designation of pharmaceuticals that are classified as high-cost, high complexity and/or high touch. Specialty drugs are often biologics -"drugs derived from living cells" that are injectable or infused (although some are oral medications).
Generic drugs are the medications that are developed to be similar to a medicine that is already commercially available in the market with a brand name. The generic drug is similar to the medicine available in terms of dosage, safety and strength, mode of administration, quality and intended use.