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Drug Price Trends for VERAPAMIL ER PM
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Average Pharmacy Cost for VERAPAMIL ER PM
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| VERAPAMIL ER PM 200 MG CAPSULE | 62175-0486-37 | 4.62385 | EACH | 2025-03-19 |
| VERAPAMIL ER PM 100 MG CAPSULE | 62175-0485-37 | 4.21059 | EACH | 2025-03-19 |
| VERAPAMIL ER PM 300 MG CAPSULE | 62175-0487-37 | 7.34719 | EACH | 2025-03-19 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Verapamil ER PM
Introduction to Verapamil ER PM
Verapamil ER PM, a calcium channel blocker, is commonly used to treat high blood pressure, angina, and certain types of arrhythmias. It is available in various formulations, including extended-release oral capsules and tablets.
Market Overview
The global Verapamil Hydrochloride market, which includes Verapamil ER PM, is experiencing significant growth. Here are some key points from the market analysis:
Market Size and Growth
- The global Verapamil Hydrochloride market is projected to grow substantially from 2024 to 2031, with a notable compound annual growth rate (CAGR)[1].
Market Segmentation
- The market is segmented by type and application. The purity above 98% segment accounted for a significant share of the global Verapamil Hydrochloride market in 2023 and is expected to continue growing[1].
Regional Analysis
- The market is analyzed at global, regional, and country levels. Key regions include North America, Europe, Asia Pacific, South America, and the Middle East and Africa[1].
Key Players and Market Dynamics
Major Manufacturers
- Key companies such as Bharat Pharmaceuticals and Vpl Chemicals Pvt Ltd are focusing on strengthening their product portfolios and expanding their business in the global market[1].
Market Share and Competition
- Historically, the market for Verapamil ER PM has been dominated by two manufacturers: Kremers Urban Pharmaceuticals and Mylan Pharmaceuticals. However, Mylan discontinued its version of Verapamil ER PM, leading Kremers to hold a significant market share, especially in Medicaid markets[4].
Price Trends and Projections
Current Pricing
- The cost of Verelan PM (Verapamil ER PM) varies by dosage and pharmacy. For example, a 100-capsule supply of 200 mg/24 hours extended-release capsules can cost around $712, while a 100-capsule supply of 300 mg/24 hours can cost approximately $1,030.54[2].
Price Fluctuations
- There have been significant price increases in the past, particularly in 2018, when the prices of Verapamil ER PM increased by 304.8% to 339.1% for different strengths due to Mylan's discontinuation of their product and Kremers' dominant market position[4].
Future Pricing Projections
- Given the current market dynamics, prices are likely to remain high due to the limited competition. However, the introduction of new generic versions or changes in regulatory policies could impact future pricing[4].
Patient Assistance and Copay Programs
Availability of Assistance Programs
- Patient assistance programs (PAPs) and copay programs are available to help individuals with low income or those who are uninsured or under-insured. For example, the HealthWell Foundation Copay Program provides financial assistance for eligible individuals to cover coinsurance, copayments, and healthcare premiums[2].
Market Drivers and Restraints
Drivers
- Increasing prevalence of cardiovascular diseases and the need for effective treatments drive the demand for Verapamil ER PM. Additionally, advancements in pharmaceutical technology and the expansion of healthcare infrastructure contribute to market growth[1].
Restraints
- The discontinuation of Mylan's Verapamil ER PM and the resulting market dominance by Kremers have led to price volatility and potential supply chain issues. Regulatory changes and patent expirations can also impact market dynamics[4].
Technological and Regulatory Trends
Technological Advancements
- Continuous improvements in drug formulation and delivery systems, such as extended-release technologies, enhance the efficacy and patient compliance of Verapamil ER PM[1].
Regulatory Environment
- Changes in FDA regulations and patent laws can significantly affect the market. For instance, the end marketing date listed for Mylan’s NDCs indicates potential regulatory impacts on product availability[4].
Consumer Behavior and Preferences
Patient Compliance
- Extended-release formulations like Verapamil ER PM are preferred due to their convenience and improved patient compliance. This preference drives demand and influences market trends[1].
Cost Sensitivity
- Patients are highly cost-sensitive, and the availability of generic versions and patient assistance programs can significantly influence their choice of medication[2][5].
Key Takeaways
- The Verapamil ER PM market is characterized by significant growth driven by increasing demand for cardiovascular treatments.
- The market is dominated by a few key players, with Kremers holding a major share due to Mylan's product discontinuation.
- Prices have been volatile, with significant increases in recent years.
- Patient assistance programs and generic versions play crucial roles in making the medication more accessible.
- Technological advancements and regulatory changes continue to shape the market.
FAQs
1. What is Verapamil ER PM used for? Verapamil ER PM is used to treat high blood pressure, angina, and certain types of arrhythmias.
2. Who are the major manufacturers of Verapamil ER PM? The major manufacturers include Kremers Urban Pharmaceuticals and previously Mylan Pharmaceuticals, although Mylan has discontinued its version.
3. Why have prices for Verapamil ER PM increased significantly? Prices have increased due to Mylan's discontinuation of their product, leading to Kremers' dominant market position and resulting price volatility.
4. Are there any patient assistance programs available for Verapamil ER PM? Yes, patient assistance programs such as the HealthWell Foundation Copay Program are available to help eligible individuals cover the costs of the medication.
5. What are the future projections for the Verapamil ER PM market? The market is expected to continue growing, driven by increasing demand for cardiovascular treatments, although prices may remain high due to limited competition.
Sources
- Cognitivemarketresearch.com: Verapamil Hydrochloride Market Report 2024 (Global Edition)
- Drugs.com: Verelan PM Prices, Coupons, Copay Cards & Patient Assistance
- GoodRx.com: Verapamil PM Medicare Coverage and Co-Pay Details
- 46brooklyn.com: What's happening to generic drug prices? April 2019 NADAC Survey Update
- Drugs.com: Verapamil Prices, Coupons, Copay Cards & Patient Assistance
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