Final answer:
Prednisone is a corticosteroid used to reduce inflammation, commonly in conditions like asthma and arthritis, with both generic and various trade names; however, long-term use may pose health risks.
Step-by-step explanation:
The generic name for the drug in question is prednisone, which is a synthetic steroid and a corticosteroid used medically to reduce inflammation and to treat conditions such as asthma and arthritis. The trade names for prednisone vary and may include Deltasone, Prednicot, and Rayos, among others. It is important to note that while corticosteroids like prednisone can be essential for managing various health conditions, their long-term use can lead to potential health problems.