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Last Updated: January 20, 2025

Drug Price Trends for SILACE


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Drug Price Trends for SILACE

Average Pharmacy Cost for SILACE

These are average pharmacy acquisition costs (net of discounts) from a US national survey
Drug NameNDCPrice/Unit ($)UnitDate
SILACE 50 MG/5 ML LIQUID 54838-0116-80 0.02038 ML 2024-11-20
SILACE 50 MG/5 ML LIQUID 54838-0116-80 0.02099 ML 2024-10-23
SILACE 50 MG/5 ML LIQUID 54838-0116-80 0.02083 ML 2024-09-18
SILACE 50 MG/5 ML LIQUID 54838-0116-80 0.01580 ML 2024-08-21
SILACE 50 MG/5 ML LIQUID 54838-0116-80 0.01491 ML 2024-07-17
>Drug Name>NDC>Price/Unit ($)>Unit>Date
Showing 1 to 5 of 5 entries

Market Analysis and Price Projections for the Drug Discovery Sector: Implications for Drugs Like SILIQ

Introduction

The pharmaceutical industry is undergoing significant transformations driven by advances in technology, regulatory changes, and shifting market dynamics. This article will delve into the broader context of drug discovery and pricing, using the example of SILIQ to illustrate key points.

Drug Discovery Market Overview

The drug discovery market is experiencing rapid growth, driven by technological advancements and increasing demand for innovative therapies. The in-silico drug discovery market, for instance, is valued at USD 10.9 billion in 2023 and is expected to reach USD 40.3 billion by 2031, growing at a CAGR of 18.05% during the forecast period[1].

Regional Market Dynamics

North America is expected to hold the maximum market share in the in-silico drug discovery market due to advanced infrastructure and high demand for therapies for rare diseases. The Asia Pacific region is also anticipated to grow rapidly, driven by a growing patient population and government initiatives to strengthen healthcare infrastructure[1].

Impact of Regulatory Changes

Recent regulatory changes, such as those introduced by the Inflation Reduction Act (IRA), are significantly impacting the pharmaceutical industry. The IRA allows Medicare to negotiate prices for certain expensive drugs, which is expected to save the federal government $237 billion over 10 years. However, this could also reduce the number of new drugs coming to market during this period[2][5].

Drug Pricing and Negotiations

The IRA's provisions include negotiating prices for drugs that have been on the market for at least nine years. This has led to legal challenges from pharmaceutical companies, which argue that such negotiations could stifle innovation. Despite these challenges, the government is moving forward with price negotiations, with the first set of prices expected to be announced by September 2026[2].

Case Study: SILIQ

SILIQ, a drug used for treating moderate to severe plaque psoriasis, provides a relevant example of how market dynamics and regulatory changes can affect drug pricing and availability.

Market Assessment

Historical sales data and forecasted sales figures for SILIQ have been analyzed in detailed reports. For instance, the "Siliq - Drug Insight, 2019" report provides comprehensive details on the drug's market performance, including historical sales and forecasted sales from 2019 to 2021[4].

Patent and Exclusivity Details

Understanding the patent expiry timeline and market exclusivity details is crucial for planning future market strategies. For SILIQ, this information helps in devising API procurement strategies and planning developmental timelines around the drug's patents in major markets like the US and EU[4].

SWOT Analysis

A SWOT analysis of SILIQ highlights its strengths, weaknesses, opportunities, and threats. This analysis is essential for identifying current in-market competitors, emerging therapies, and opportunities in the same therapeutic area[4].

Price Projections and Savings

The IRA's drug pricing provisions are expected to reduce out-of-pocket drug spending significantly. For example, CMS expects out-of-pocket drug spending to peak in 2023 at $52.5 billion and then decline through 2027. By 2030, total out-of-pocket spending on retail prescription drugs is projected to be $48.1 billion, which is 18.5% lower than previously projected[5].

Impact on Pharmaceutical Companies

Pharmaceutical companies are responding to these changes by adjusting their pricing strategies and challenging the new regulations in court. For instance, AstraZeneca's CEO described the opening bid for their drug Farxiga as "relatively encouraging," indicating a mixed response from the industry[2].

Global API Manufacturers and Supply Chain

The availability and pricing of Active Pharmaceutical Ingredients (APIs) play a critical role in the overall cost of drugs. Reports on drugs like SILIQ include detailed assessments of API manufacturers by country and region, which is vital for ensuring a stable supply chain and managing costs[4].

Emerging Therapies and Market Competition

The pharmaceutical market is highly competitive, with continuous research and development of new therapies. Emerging therapies in the same therapeutic area as SILIQ pose both opportunities and challenges. Understanding these dynamics is crucial for maintaining market share and planning future strategies[4].

Key Takeaways

  • The drug discovery market, including in-silico methods, is growing rapidly, driven by technological advancements and increasing demand.
  • Regulatory changes, such as the IRA, are significantly impacting drug pricing and availability.
  • Drugs like SILIQ are subject to detailed market assessments, including historical sales, forecasted sales, and SWOT analyses.
  • The IRA's provisions are expected to reduce out-of-pocket drug spending but may also affect the number of new drugs coming to market.
  • Pharmaceutical companies are adapting to these changes through pricing adjustments and legal challenges.

FAQs

Q: What is the projected growth rate of the in-silico drug discovery market? A: The in-silico drug discovery market is expected to grow at a CAGR of 18.05% from 2024 to 2031[1].

Q: How will the Inflation Reduction Act impact drug prices? A: The IRA allows Medicare to negotiate prices for certain expensive drugs, which is expected to save the federal government $237 billion over 10 years and reduce out-of-pocket drug spending[2][5].

Q: What are the key factors driving the growth of the Asia Pacific in-silico drug discovery market? A: The Asia Pacific region is growing rapidly due to a growing patient population with chronic and infectious diseases and a growing government focus on strengthening healthcare infrastructure[1].

Q: How does the SWOT analysis of a drug like SILIQ help in market planning? A: A SWOT analysis helps in identifying strengths, weaknesses, opportunities, and threats, which is essential for planning developmental timelines, identifying competitors, and understanding emerging therapies[4].

Q: What is the expected impact of the IRA on the number of new drugs coming to market? A: The IRA's drug pricing provisions are predicted to reduce the number of new drugs coming to market over the next decade[2][5].

Sources:

  1. InsightAce Analytic, "In-Silico Drug Discovery Market Future Trends Analysis to 2031", April 30, 2024.
  2. KFF Health News, "Patients See First Savings From Biden's Drug Price Push, as Pharma Fights Back", February 16, 2024.
  3. BCC Research, "Drug Discovery Technologies - Report Synopsis".
  4. Business Wire, "Global Siliq Drug Insights Report 2019 with Sales Forecasted to 2021", November 4, 2019.
  5. Health System Tracker, "What are the recent and forecasted trends in prescription drug spending?", September 15, 2023.

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