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This may allow you to get it for as little as a - copay While Finasteride and Propecia both have the same risk of side effects – as they are indeed the same drug – this risk is low. On the other end, Finasteride is much cheaper and could be covered by insurance as a Tier 1 medication Remember, Both finasteride and Propecia are only effective as long as they are used. Performance The two drugs use the same active ingredient - Finasteride. Merck was then awarded a separate patent for the use of Finasteride to treat pattern hair loss which expired in November 2013. Within a month of the switch I started losing ground and noticing increased shedding.. I have personally used Propecia and different generics and felt no difference at all Hi all, I have been taking generic Finasteride for 2 months which is costing me from Safeway pharmacy. Once you stop taking them, their effect fades away gradually. 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