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Drug Price Trends for NDC 83324-0088
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Average Pharmacy Cost for 83324-0088
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| QC ALLERGY (DIPHEN) 25 MG TAB | 83324-0088-01 | 0.03682 | EACH | 2024-12-18 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 83324-0088
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
83324-0088 Market Analysis and Financial Projection
Market Analysis and Price Projections for the Drug NDC: 83324-0088
Understanding the National Drug Code (NDC)
To analyze the market and project prices for a drug identified by the National Drug Code (NDC) 83324-0088, it is essential to understand what the NDC represents. The NDC is a unique, three-segment number that identifies drug products in the United States. It consists of a labeler code, a product code, and a package code. The FDA assigns the labeler code, while the firm assigns the product and package codes[1][2][4].
Market Trends in the Pharmaceutical Industry
Drug Price Inflation
The pharmaceutical industry is experiencing a steady rise in drug prices. For 2025, the overall drug price inflation rate is projected to be 3.81%, driven by factors such as the expanding indications of previously approved medications and the introduction of high-cost cell and gene therapies[2].
Impact of GLP-1 Agents and Other High-Cost Therapies
GLP-1 agents, such as semaglutide and tirzepatide, are significantly impacting pharmacy spend. These medications, initially approved for diabetes and obesity, have recently been approved for reducing the risk of major adverse cardiovascular events. This has led to a substantial increase in spend on these drugs, with semaglutide seeing a 77% increase in spend compared to the previous year[2].
Global Pricing Disparities
Drug prices in the U.S. are significantly higher than in other regions. In 2022, the average price per unit in the U.S. was 5.5 times as high as in the OECD (excluding the U.S.) and 7.7 times as high as the rest of the world (excluding the U.S.)[3].
Factors Influencing Drug Prices
Patent Expirations and Generic Competition
The biopharma industry is facing a substantial loss of exclusivity due to expiring patents, with over $300 billion in sales at risk through 2030. This trend is expected to drive interest in mergers and acquisitions and increase competition from generic drugs and biosimilars[2].
Regulatory and Access Issues
Pricing and access to drugs remain significant issues for the life sciences industry. Regulatory processes and geopolitical uncertainty also play crucial roles in shaping the market. Nearly half of the C-suite executives surveyed by Deloitte expect these issues to significantly affect their strategies in 2025[2].
Technological Advancements
The integration of technologies such as gen AI and the increased use of data are expected to boost operational efficiencies and drive innovations. Digital transformation is a key driver of optimism in the life sciences industry for 2025[2].
Market Analysis for NDC 83324-0088
To project the price of the drug identified by NDC 83324-0088, we need to consider several factors:
Category Impact
If the drug falls under a category experiencing high demand and limited competition, such as GLP-1 agents or cell and gene therapies, it is likely to see higher price inflation. However, if it is a more generic or widely available drug, the price may be more stable or subject to downward pressure from competition.
Regulatory Changes
Any changes in regulatory requirements or approvals can significantly impact the pricing strategy of the drug. For example, if the drug receives new indications or if there are changes in FDA regulations, this could affect its pricing.
Market Competition
The presence of generic or biosimilar alternatives can reduce the price of the drug. If there are no direct competitors, the drug may maintain its current price or see an increase based on market demand.
Price Projections
Given the general trend of a 3.81% drug price inflation rate for 2025, it is reasonable to expect that the price of the drug identified by NDC 83324-0088 could increase by a similar margin, assuming it is not significantly affected by other specific factors.
- Category Impact: If the drug is in a high-demand category with limited competition, it may see a higher price increase.
- Regulatory Changes: Any favorable regulatory changes could support higher prices.
- Market Competition: The absence of generic or biosimilar alternatives would support maintaining or increasing the current price.
Example Pricing Analysis
For a drug like QC LUBRICANT 0.6% EYE DROP (NDC 83324-0028), which is a different product but can serve as an example, the price per unit has been relatively stable. However, this stability can vary based on the specific market conditions of the drug in question (NDC 83324-0088)[5].
Key Takeaways
- Drug Price Inflation: The pharmaceutical industry is projected to experience a 3.81% price inflation rate for 2025.
- Category Impact: High-demand categories with limited competition can drive higher price increases.
- Regulatory Changes: Changes in regulatory requirements can significantly impact pricing strategies.
- Market Competition: The presence of generic or biosimilar alternatives can reduce drug prices.
- Technological Advancements: Digital transformation and the use of data are expected to drive operational efficiencies and innovations.
FAQs
Q: What is the National Drug Code (NDC) and how is it structured? A: The NDC is a unique, three-segment number that identifies drug products in the United States. It consists of a labeler code, a product code, and a package code, each assigned by different entities[1][2][4].
Q: What factors influence drug prices in the pharmaceutical industry? A: Drug prices are influenced by factors such as patent expirations, generic competition, regulatory changes, market demand, and technological advancements[2].
Q: How do global pricing disparities affect drug prices in the U.S.? A: Drug prices in the U.S. are significantly higher than in other regions, with prices being 5.5 times as high as in the OECD (excluding the U.S.) and 7.7 times as high as the rest of the world (excluding the U.S.)[3].
Q: What is the impact of GLP-1 agents on pharmacy spend? A: GLP-1 agents have significantly increased pharmacy spend due to their expanded indications and high demand, with semaglutide seeing a 77% increase in spend compared to the previous year[2].
Q: How do technological advancements affect the pharmaceutical industry? A: Technological advancements, such as the integration of gen AI and increased use of data, are expected to boost operational efficiencies and drive innovations in the life sciences industry[2].
Sources
- FDA: National Drug Code Database Background Information.
- DrugPatentWatch: Latest drug prices and trends for NDC 00338-9558.
- ASPE: International Market Size and Prices.
- FDA: National Drug Code Directory.
- DrugPatentWatch: Latest pharmaceutical drug prices and trends for NDC 83324-0028.
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