Is Flunisolide a Generic Aerobid?The answer is no. Flunisolide is the active ingredient in Aerobid (as well as other medications) but is not a generic version of the medication. What can be confusing is that, oftentimes, the active ingredient of any drug is referred to as its "generic name." The generic name of a drug is different from a generic version of it. In order for there to be a generic version of a medicine, the original medicine must have gone off patent and another company (besides the original manufacturer) must have made the product.