Market Analysis and Price Projections for Citalopram Hydrobromide (NDC: 13668-009)
Overview of Citalopram Hydrobromide
Citalopram Hydrobromide, with the NDC code 13668-009, is a generic antidepressant medication labeled and distributed by Torrent Pharmaceuticals Limited. It is classified as a serotonin reuptake inhibitor, commonly used to treat depression and other mental health conditions[1][5].
Market Context
Current Market Trends
The pharmaceutical industry is facing significant challenges and opportunities in the current market. Pricing and access to drugs are identified as the most critical issues, with nearly half of C-suite executives expecting these factors to significantly impact their strategies in 2025[3].
Generic Drug Market
Generic drugs, like Citalopram Hydrobromide, play a crucial role in the pharmaceutical market. The competition from generic drugs and biosimilars is a top trend, with 37% of surveyed executives viewing it as a key factor. This competition can lead to price pressures and market share shifts[3].
Pricing Dynamics
Historical Pricing
The pricing of generic drugs has seen significant fluctuations. For instance, the median price increase for generic drugs in 2022 was 19.9%, with some drugs experiencing dramatic price hikes. A notable example is a generic naproxen manufactured by Hikma Pharmaceuticals, which saw a 2,527% price increase between 2012 and 2021[2].
Current Pricing of Citalopram Hydrobromide
As of the latest available data, the pricing of Citalopram Hydrobromide is relatively stable compared to other generic drugs. However, the overall trend in the generic drug market suggests that prices can be volatile and subject to various market and regulatory factors.
Factors Influencing Price Projections
Utilization and Demand
Increased utilization of antidepressant medications, driven by growing awareness and treatment of mental health conditions, can influence the demand and subsequently the price of Citalopram Hydrobromide. In clinics, increased utilization has been a key driver of growth in pharmaceutical expenditures[4].
New Drug Approvals and Patent Expirations
New drug approvals and patent expirations can significantly impact the market. While Citalopram Hydrobromide itself is not facing immediate patent expiration, the broader market dynamics, such as the loss of exclusivity for high-revenue products, can affect pricing strategies and competition[3][4].
Regulatory and Policy Changes
Regulatory changes and policy initiatives can also influence drug pricing. For example, price transparency programs and potential legislation aimed at controlling drug prices can impact the pricing of generic drugs like Citalopram Hydrobromide[2].
Price Projections for 2024 and Beyond
Overall Pharmaceutical Spending
For 2024, overall prescription drug spending is projected to rise by 10.0% to 12.0%, with clinics and hospitals anticipating increases of 11.0% to 13.0% and 0% to 2.0%, respectively[4].
Generic Drug Price Trends
Given the median price increase for generic drugs in recent years, it is reasonable to expect that Citalopram Hydrobromide could experience a moderate price increase. However, the exact percentage will depend on various factors, including competition, regulatory changes, and market demand.
Specific Projections for Citalopram Hydrobromide
While specific price projections for Citalopram Hydrobromide are not available, considering the broader trends:
- Short-term (2024): A moderate price increase of around 5-7% is plausible, aligning with the median increase for generic drugs.
- Long-term (2025 and beyond): The price could stabilize or see slight increases as the market adjusts to new regulatory and competitive pressures.
Key Takeaways
- Market Trends: Pricing and access to drugs are critical issues in the pharmaceutical industry.
- Generic Drug Competition: Competition from generic drugs and biosimilars is a significant factor.
- Utilization and Demand: Increased utilization can drive demand and prices.
- Regulatory Factors: Regulatory changes and policy initiatives can impact pricing.
- Price Projections: Moderate price increases are expected for Citalopram Hydrobromide in the short term.
FAQs
What is Citalopram Hydrobromide used for?
Citalopram Hydrobromide is used to treat depression and other mental health conditions. It is a serotonin reuptake inhibitor.
Who manufactures Citalopram Hydrobromide with NDC 13668-009?
Citalopram Hydrobromide with NDC 13668-009 is manufactured by Torrent Pharmaceuticals Limited.
What are the current market trends affecting generic drugs like Citalopram Hydrobromide?
Current market trends include significant competition from generic drugs and biosimilars, pricing and access issues, and the impact of regulatory changes.
How is the pricing of generic drugs like Citalopram Hydrobromide influenced?
Pricing is influenced by factors such as utilization, new drug approvals, patent expirations, and regulatory or policy changes.
What are the projected price increases for Citalopram Hydrobromide in 2024?
A moderate price increase of around 5-7% is plausible for 2024, aligning with the median increase for generic drugs.
Sources
- FDA.report: NDC 13668-009 Oral Tablet Citalopram Hydrobromide.
- Oregon Department of Consumer and Business Services: Prescription Drug Price Transparency Results and Recommendations 2022.
- Deloitte Insights: 2025 life sciences outlook.
- PubMed: National trends in prescription drug expenditures and projections for 2024.
- DailyMed: Label: CITALOPRAM HYDROBROMIDE tablet.
