Market Analysis and Price Projections for NDC: 70954-0212 (Trihexyphenidyl Hydrochloride)
Introduction
Trihexyphenidyl Hydrochloride, identified by the National Drug Code (NDC) 70954-0212, is a medication manufactured by Novitium Pharma LLC. It is primarily used to treat symptoms of Parkinson's disease and drug-induced parkinsonism. Here, we will delve into a market analysis and price projections for this drug, considering various factors that influence its pricing.
Market Overview
Drug Classification and Use
Trihexyphenidyl Hydrochloride is an anticholinergic medication that helps to reduce muscle stiffness, sweating, and saliva production associated with Parkinson's disease and other conditions. Its market demand is driven by the prevalence of these conditions and the need for effective treatment options[1].
Market Size and Growth
The global market for Parkinson's disease treatments is growing due to an increasing patient population and advancements in treatment options. However, the specific market size for Trihexyphenidyl Hydrochloride is influenced by its generic status and competition from other anticholinergic drugs.
Pricing Factors
Regulatory Requirements
In the United States, pharmaceutical manufacturers are required to report price increases and new high-cost drugs to state authorities, such as the Oregon Drug Price Transparency Program. For drugs like Trihexyphenidyl Hydrochloride, any price increase of 10% or more within a 12-month period must be reported 60 days in advance[5].
Supply Chain and Transparency
The pharmaceutical supply chain, including interactions between manufacturers, health insurers, and pharmacy benefit managers (PBMs), significantly impacts drug pricing. Transparency in these interactions is crucial for understanding price dynamics. For instance, the Oregon Drug Price Transparency Program highlights the importance of reporting rebates, discounts, and other cost factors that influence final consumer prices[2].
Comparative Pricing
The prices of prescription drugs in the U.S. are significantly higher compared to other OECD countries. For example, in 2022, the average price per unit in the U.S. was 5.5 times higher than in the OECD (excluding the U.S.) and 7.7 times higher than in the rest of the world. This disparity suggests that U.S. prices, including those for generic drugs like Trihexyphenidyl Hydrochloride, may be subject to unique market and regulatory pressures[3].
Historical Price Trends
Generic Drug Price Increases
Generic drugs, including Trihexyphenidyl Hydrochloride, have seen significant price increases in recent years. For example, the Oregon Drug Price Transparency Program reported a median price increase of 19.9% for generic drugs in 2022. While specific data for NDC 70954-0212 is not provided, such trends indicate potential price volatility for this drug[2].
Case Study: Naproxen Price Increase
A notable example of price increase is the generic version of Naproxen manufactured by Hikma Pharmaceuticals, which saw a 2,527% price increase from $34.13 in 2012 to $896.44 in 2021. While this is an extreme case, it highlights the potential for significant price fluctuations in the generic drug market[2].
Price Projections
Short-Term Projections
Given the regulatory environment and market trends, short-term price projections for Trihexyphenidyl Hydrochloride are likely to be influenced by any reported price increases or changes in the supply chain. If the manufacturer, Novitium Pharma LLC, reports a price increase, it would need to comply with state transparency requirements, potentially affecting the final consumer price.
Long-Term Projections
Long-term price projections are more complex and depend on several factors:
- Market Competition: The presence of other anticholinergic drugs and potential new treatments for Parkinson's disease could impact the market share and pricing of Trihexyphenidyl Hydrochloride.
- Regulatory Changes: Future legislative changes, such as the implementation of an upper payment limit for certain drugs, could cap price increases and affect long-term pricing[2].
- Global Pricing Trends: The ongoing disparity in drug prices between the U.S. and other countries may lead to continued high prices in the U.S. market unless there are significant policy changes[3].
Key Takeaways
- Regulatory Compliance: Manufacturers must adhere to transparency requirements, which can impact pricing.
- Market Trends: Generic drugs are subject to significant price increases, as seen in the broader market.
- Global Pricing Disparities: U.S. prices for prescription drugs, including generics, are substantially higher than in other OECD countries.
- Supply Chain Transparency: Understanding the interactions within the pharmaceutical supply chain is crucial for predicting price changes.
FAQs
What is the primary use of Trihexyphenidyl Hydrochloride?
Trihexyphenidyl Hydrochloride is primarily used to treat symptoms of Parkinson's disease and drug-induced parkinsonism.
Who manufactures Trihexyphenidyl Hydrochloride with the NDC 70954-0212?
Novitium Pharma LLC manufactures Trihexyphenidyl Hydrochloride with the NDC 70954-0212.
What are the regulatory requirements for reporting price increases for this drug?
Manufacturers must report any price increase of 10% or more within a 12-month period 60 days in advance to state authorities.
How do global pricing trends affect the price of Trihexyphenidyl Hydrochloride in the U.S.?
The U.S. prices for prescription drugs, including generics like Trihexyphenidyl Hydrochloride, are significantly higher than in other OECD countries, suggesting unique market and regulatory pressures.
What are the potential long-term price projections for this drug?
Long-term price projections depend on market competition, regulatory changes, and global pricing trends, which could lead to continued high prices unless there are significant policy changes.
Sources
- FindACode: ANI Pharmaceuticals, Inc. - List of Drugs - NDC Labeler/Manufacturer.
- Oregon Department of Consumer and Business Services: Prescription Drug Price Transparency Annual Report 2022.
- ASPE: ISSUE BRIEF - International Market Size and Prices.
- FDA: National Drug Code Database Background Information.
- Oregon Department of Consumer and Business Services: Prescription Drug Price Transparency Results and Recommendations 2020.
