true but not completely true.
for drugs with narrow therapeutic index such as synthroid, coumadin, digoxin, the pk profile difference might change the therapeutic effects greatly. so it is not good and generally not allowed to switch.
for drugs with novel delievery system. brand name drugs may have better absorption. But all generic need to pass bioequivalent test before going on the market.
for drugs like birth comtrol pills. I don't think the differences between brand name and generic are that big.
using generic saves you money and saves healthcare cost.