Market Analysis and Price Projections for NDC 70677-0071: Enteric Coated Aspirin
Introduction
The pharmaceutical market is dynamic and influenced by various factors, including regulatory changes, competition, and economic conditions. This analysis focuses on the market and price projections for the drug identified by the National Drug Code (NDC) 70677-0071, which is an enteric coated aspirin product.
Product Overview
- NDC: 70677-0071
- Product Type: Human OTC Drug
- Proprietary Name: Enteric Coated Aspirin Regular Strength
- Generic Name: Aspirin
- Dosage Form: Tablet, Delayed Release
- Active Ingredient Strength: 325 mg/1
- Labeler Name: McKesson[1].
Market Trends in the Pharmaceutical Industry
Pricing and Access
Pricing and access to drugs are significant issues in the pharmaceutical industry. Nearly half of C-suite executives in the life sciences sector expect pricing and access to significantly impact their strategies in 2025[3].
Seasonal Price Increases
Historically, the largest number of price increases for prescription and OTC drugs occur in January and July. In 2022, over 3,000 drugs experienced price increases in January, with an average increase of nearly $150 per drug (10% increase)[2].
Competition from Generics and Biosimilars
Competition from generic drugs and biosimilars is a top trend, with 37% of respondents viewing it as a significant concern. The patent cliff, with over $300 billion in sales at risk through 2030 due to expiring patents, is also a major issue[3].
Price Projections for Enteric Coated Aspirin
Historical Pricing
Given that NDC 70677-0071 is an OTC product, its pricing is generally more stable compared to prescription drugs. However, it can still be influenced by broader market trends.
Impact of Inflation
The Consumer Price Index (CPI-U) increased by 8.5% between July 2021 and July 2022, which can affect the pricing of OTC drugs. While the average price increase for drugs in July 2022 was slightly below the rate of inflation, some drugs experienced significant price hikes[2].
Competitive Landscape
The presence of generic and branded competitors in the aspirin market can keep prices relatively stable. However, any significant changes in the market, such as new entrants or supply chain disruptions, could impact pricing.
Market Performance Analysis
Sales Volume and Price
For OTC drugs like enteric coated aspirin, sales volume and price are less volatile compared to prescription drugs. However, the sales volume can be affected by consumer preferences and health trends. The average sales price for traditional OTC drugs has shown variability, with non-traditional models sometimes offering lower prices[4].
Regulatory and Market Factors
OTC Monograph Status
NDC 70677-0071 is classified under "OTC Monograph Not Final," which means it is subject to ongoing regulatory review. Changes in monograph status can impact pricing and market availability[1].
Digital Transformation and Innovation
The life sciences industry is undergoing significant transformation driven by digital advancements and scientific innovations. While these changes are more relevant to prescription drugs, they can indirectly influence the OTC market by driving overall efficiency and innovation[3].
Key Takeaways
- Pricing Stability: OTC drugs like enteric coated aspirin generally experience more stable pricing compared to prescription drugs.
- Seasonal Increases: While less common for OTC drugs, seasonal price increases in January and July can still occur.
- Competition: The presence of generic and branded competitors helps maintain stable prices.
- Regulatory Impact: Changes in OTC monograph status can affect market dynamics.
- Economic Factors: Inflation and broader economic conditions can influence pricing.
FAQs
-
What is the current market status of NDC 70677-0071?
- NDC 70677-0071 is an OTC drug labeled and distributed by McKesson, with a marketing start date of May 17, 2019[1].
-
How often do price increases occur for OTC drugs?
- Price increases for OTC drugs are less frequent than for prescription drugs but can still occur, particularly in January and July[2].
-
What factors influence the pricing of enteric coated aspirin?
- Pricing is influenced by competition, regulatory status, and broader economic conditions such as inflation[2][3].
-
Can digital transformation impact the pricing of OTC drugs?
- While digital transformation primarily affects prescription drugs, it can indirectly influence OTC drugs by driving overall industry efficiency and innovation[3].
-
How does the patent cliff affect the aspirin market?
- The patent cliff primarily affects high-revenue prescription drugs and has a minimal direct impact on the aspirin market, which is dominated by generic and OTC products[3].
Sources
- FDA Report: NDC 70677-0071 Oral Tablet, Delayed Release enteric coated aspirin Regular Strength.
- ASPE Brief: Price Increases for Prescription Drugs, 2016-2022.
- Deloitte Insights: 2025 Life Sciences Executive Outlook.
- ASPE Issue Brief: Nonprofit Quantitative Analysis.
