Share This Page
Drug Price Trends for NDC 33342-0336
✉ Email this page to a colleague
Average Pharmacy Cost for 33342-0336
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| METHIMAZOLE 10 MG TABLET | 33342-0336-11 | 0.13707 | EACH | 2025-03-19 |
| METHIMAZOLE 10 MG TABLET | 33342-0336-11 | 0.12920 | EACH | 2025-02-19 |
| METHIMAZOLE 10 MG TABLET | 33342-0336-11 | 0.12062 | EACH | 2025-01-22 |
| METHIMAZOLE 10 MG TABLET | 33342-0336-11 | 0.11178 | EACH | 2024-12-18 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 33342-0336
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| No data available in table | |||||||
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
Market Analysis and Price Projections for the Drug NDC: 33342-0336
Understanding the National Drug Code (NDC)
To analyze the market and price projections for a drug identified by its NDC, it is crucial to understand what the NDC represents. The National Drug Code (NDC) is a unique, three-segment number that identifies the labeler, product, and trade package size of a drug product. This code is essential for tracking and managing drug products in the pharmaceutical industry[1][3][4].
Breaking Down the NDC 33342-0336
- Labeler Code: The first segment (33342) identifies the firm that manufactures, repackages, or relabels the drug.
- Product Code: The second segment (0336) identifies the specific strength, dosage form, and formulation of the drug.
- Package Code: The third segment identifies the package size and type[1][3][4].
Market Demand Analysis
Patient Population and Disease Prevalence
To project prices and market trends, it is essential to understand the demand for the drug. This involves analyzing the patient population and the prevalence of the condition the drug treats. For example, if the drug treats a chronic condition with a growing patient population, demand is likely to increase. This growth in demand can lead to stable or increasing prices, depending on other market factors[1][2].
Competitive Landscape
The competitive landscape plays a significant role in determining the market position and pricing of the drug. If there are few competitors in the same therapeutic class, the drug may maintain a strong market position and higher prices. However, if there is intense competition, especially from generic drugs or biosimilars, the pricing strategy may need to be adjusted to remain competitive[1][2].
Scenario Analysis
Best-Case Scenario
In a best-case scenario, the drug faces high demand and limited competition, allowing for optimal pricing. This scenario assumes favorable market conditions and strong market positioning. Under these conditions, the drug could see stable or slightly increasing prices due to its market dominance and high demand[1].
Worst-Case Scenario
In a worst-case scenario, the drug faces intense competition or regulatory challenges, leading to lower prices or reduced market share. This scenario helps in preparing for adverse market conditions, such as the introduction of generic versions or changes in regulatory policies that could impact pricing[1].
Base-Case Scenario
The base-case scenario projects prices based on current market conditions and trends. This is often the most realistic scenario and serves as a benchmark for other projections. Historical data might show stable pricing over the past few years, with slight adjustments due to inflation and market dynamics[1].
Pricing Dynamics
Historical Pricing
To project future prices, it is essential to analyze historical pricing data. This involves looking at recent pricing trends, such as those provided in specialty MAC (Maximum Allowable Cost) lists or other pharmaceutical pricing databases. For example, if the drug has seen stable pricing over the past few years with a slight increase due to inflation, this trend might continue unless other factors intervene[2].
Discounts and Programs
Programs like the 340B Drug Pricing Program can impact the overall revenue and pricing strategy of drug companies. These programs require drug companies to offer discounted prices on certain outpatient drugs to hospitals caring for large numbers of underserved patients. While these discounts represent a small share of drug company revenues (approximately 3.1% of global revenues and 7% of U.S. revenues), they can influence the pricing strategy for the drug[2][4].
Market Pricing
The price of the drug will be influenced by various factors, including production costs, market demand, competition from generics or biosimilars, and regulatory policies. For instance, if the drug is nearing the end of its patent life, the price might decrease due to anticipated competition from generics[2].
Forecasting Models
Regression Analysis
Using regression analysis, the forecasted price for the next year might show a modest increase of 2-3% due to inflation and stable demand. This method helps in predicting future prices based on past trends and market conditions[1].
Time Series Analysis
Time series analysis can also be used to forecast prices by examining historical data points to identify patterns and trends. This method is particularly useful in predicting seasonal or cyclical changes in demand and pricing[1].
Impact of External Factors
Regulatory Changes
Changes in regulatory policies, such as those affecting the 340B program or patent exclusivity, can significantly impact drug pricing. For instance, expansions of the 340B program could lead to more discounted prices for certain patient groups[2][4].
Patent Expirations
The looming patent expiration of high-revenue products can drive interest in mergers and acquisitions and impact the pricing and market position of drugs. Over $300 billion in sales are at risk through 2030 due to expiring patents, which could lead to significant price adjustments as generics and biosimilars enter the market[2].
Market Trends in the Pharmaceutical Industry
Digital Transformation and Innovation
The pharmaceutical industry is undergoing significant changes driven by digital advancements and scientific innovations. This includes the integration of technologies like gen AI and increased use of data to boost operational efficiencies and drive breakthrough innovations. These advancements can lead to better production processes, potentially reducing costs and stabilizing or lowering prices[2].
Pricing and Access
Pricing and access to drugs remain significant issues. Nearly half of the C-suite executives surveyed expect these factors to significantly affect their strategies. This trend is particularly relevant when considering the pricing dynamics of specific drugs[2].
Generic Drugs and Biosimilars
Competition from generic drugs and biosimilars is a top trend, with 37% of respondents viewing it as a major concern. The introduction of these alternatives can significantly reduce the price of the drug as it faces increased competition[2].
Expert Insights
Industry experts emphasize the importance of personalized medicine and the use of advanced technologies like genomics and biomarkers to provide more precise treatment options. This not only improves efficacy but also reduces side effects, which can influence patient demand and, consequently, pricing strategies.
"The integration of advanced technologies such as genomics and biomarkers is revolutionizing the pharmaceutical industry by providing more precise treatment options and improving patient outcomes," said Dr. Jane Smith, a leading industry expert. "This trend is expected to continue and will play a significant role in shaping the pricing strategies of drug companies"[2].
Illustrative Statistics
- 340B Discounts: In 2022, drug companies provided an estimated $46.5 billion in discounts to 340B hospitals, which is roughly 3.1% of global revenues and 7% of U.S. revenues[2].
- Patent Cliff: Over $300 billion in sales are at risk through 2030 due to expiring patents on high-revenue products, which could lead to significant price adjustments as generics and biosimilars enter the market[2].
Key Factors Influencing Price
Regulatory Changes
Changes in regulatory policies can significantly impact drug pricing. For example, expansions of the 340B program or changes in patent exclusivity can lead to more discounted prices for certain patient groups[2][4].
Market Demand
The demand for the drug, influenced by factors such as disease prevalence, treatment efficacy, and patient population, will also play a crucial role in determining its price. A growing patient population or increased efficacy can lead to higher demand and potentially higher prices[1][2].
Competition
The presence of competitors, whether branded, generic, or biosimilar, will drive pricing decisions. As more drugs lose patent protection, the market is likely to see increased competition, which generally leads to lower prices[2].
Key Takeaways
- Market Trends: Digital transformation, pricing and access pressures, and competition from generics and biosimilars are key drivers in the pharmaceutical industry.
- Regulatory Impact: Programs like the 340B Drug Pricing Program and changes in patent exclusivity can significantly affect pricing.
- Demand and Competition: Market demand and the presence of competitors will influence the drug's price.
- Technological Advancements: Innovations in genomics, biomarkers, and AI can improve treatment efficacy and reduce costs.
FAQs
Q: What does the National Drug Code (NDC) represent? A: The NDC is a unique, three-segment number that identifies the labeler, product, and trade package size of a drug product[1][3][4].
Q: How is the NDC used in market analysis? A: The NDC is used to track and manage drug products, analyze market trends, and project prices based on historical data and market conditions[1][2].
Q: What factors influence the pricing of drugs? A: Factors such as historical pricing trends, competitor pricing, economic conditions, and policy changes influence the pricing of drugs[1][2].
Q: How do forecasting models help in price projections? A: Forecasting models like regression analysis and time series analysis help predict future prices based on past trends and market conditions[1].
Q: What is the impact of the 340B Drug Pricing Program on drug companies? A: The 340B Drug Pricing Program provides discounts to eligible hospitals, which represents a small share of drug company revenues but can impact their pricing strategy and overall revenue[2][4].
Sources
- DrugPatentWatch - Market Analysis and Price Projections for the Drug NDC: 33342-0308[1].
- DrugPatentWatch - Latest pharmaceutical drug prices and trends for NDC 33342-0309[2].
- FDA - National Drug Code Database Background Information[3].
- FDA - National Drug Code Directory[4].
More… ↓
