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But with todayâs launch of the Market Vectors Generic Drugs ETF (GNRX), the fundâs sponsor, Van Eck Global, says it has rolled out the first ETF targeting global makers of generic drugs and biosimilars. Generic drugs are less expensive knock-offs of brand-name, chemically synthesized drugs. Biosimilars perform the same role with drugs known as biologics, which are medicines generally derived from living cells. What generics are to Big Pharma, biosimilars are to biotechââonly much more complex to manufacture.