Understanding the National Drug Code (NDC)
The National Drug Code (NDC) 43598-0349 is a unique identifier assigned by the FDA to a specific drug product. This code is divided into three segments: the labeler code, the product code, and the package code. For NDC 43598-0349, the labeler code "43598" identifies Dr. Reddy's Laboratories Inc., the product code specifies the drug "Progesterone," and the package code details the packaging size and type[5].
Drug Identification
The NDC 43598-0349 corresponds to Progesterone, a hormone used in various medical treatments, including hormone replacement therapy and the treatment of menstrual disorders. Dr. Reddy's Laboratories Inc. is the manufacturer and distributor of this drug product[1].
Current Market Trends in Drug Pricing
Price Increases
Drug prices, including those for Progesterone, have seen significant increases in recent years. From January 2022 to January 2023, over 4,200 drug products experienced price increases, with an average increase of 15.2% per drug product. This trend is likely to continue, with prices often exceeding the rate of inflation[4].
Impact of Inflation
The prices of prescription drugs, such as Progesterone, tend to outpace the Consumer Price Index (CPI-U). This means that even if the relative price change is not drastically different, the dollar value of the increases can be substantial. For example, the average price increase from January 2022 to January 2023 was significantly higher than in previous years[4].
Single Source vs. Multi-Source Drugs
Progesterone, being a generic drug with multiple sources, tends to have higher percentage price increases compared to single-source drugs. However, the absolute dollar increases for multi-source drugs are generally lower due to competition in the market[4].
Price Projections for NDC 43598-0349
Historical Pricing Data
To project future prices, it is essential to look at historical pricing data. For instance, the prices of drugs manufactured by Dr. Reddy's Laboratories Inc. have fluctuated over time. For another drug by the same manufacturer, Abiraterone Acetate (NDC 43598-0358), the price per unit has ranged from $0.85771 to $1.08623 over different periods[2].
Inflation and Market Adjustments
Given the trend of price increases exceeding inflation rates, it is likely that the price of Progesterone (NDC 43598-0349) will also see increases. These increases could be influenced by market forces, such as demand and supply dynamics, as well as the overall economic environment.
Value-Based Pricing
There is a growing push towards value-based pricing in the pharmaceutical industry, where drug prices are aligned with their clinical benefits. If Progesterone is subject to such pricing strategies, its price could stabilize or even reduce relative to its clinical value[4].
Regulatory Changes
Regulatory changes can significantly impact drug pricing. For example, changes in policies affecting generic drug approvals or outsourcing facilities could influence the availability and competition of Progesterone, thereby affecting its price[4].
Industry Trends Shaping the Future
Prevention and Personalization
The pharmaceutical industry is moving towards prevention and personalization, with a focus on addressing health decline risk factors and using data-driven, customized treatments. While this trend may not directly impact the pricing of existing drugs like Progesterone, it could influence the development of new formulations or delivery methods that might affect market dynamics[3].
Prediction and Point of Care
The use of AI and external data in pharmaceuticals is expected to enhance clinical development and data analysis, potentially reducing development costs and improving efficiency. This could indirectly influence pricing by making the development process more cost-effective[3].
Key Takeaways
- Drug Price Increases: Prescription drug prices, including Progesterone, are likely to continue increasing, often exceeding inflation rates.
- Value-Based Pricing: There is a growing trend towards aligning drug prices with their clinical benefits, which could stabilize or reduce prices.
- Regulatory Dynamics: Changes in regulatory policies can significantly affect drug pricing and availability.
- AI and Data Trends: The increasing use of AI and external data may lead to more efficient development and potentially influence pricing.
FAQs
1. What is the National Drug Code (NDC) and how is it structured?
The NDC is a unique, three-segment number assigned by the FDA to identify drugs. It includes the labeler code, product code, and package code[5].
2. Who is the manufacturer of the drug with NDC 43598-0349?
The manufacturer of the drug with NDC 43598-0349 is Dr. Reddy's Laboratories Inc.[1].
3. What are the current trends in drug pricing?
Current trends include price increases often exceeding inflation rates, with single-source drugs having lower percentage increases but higher absolute dollar increases compared to multi-source drugs[4].
4. How do regulatory changes affect drug pricing?
Regulatory changes can influence the availability of drugs, competition in the market, and ultimately the prices of drugs. Changes in policies affecting generic drug approvals or outsourcing facilities are particularly impactful[4].
5. What role does AI play in the pharmaceutical industry?
AI is expected to enhance clinical development and data analysis, potentially reducing development costs and improving the efficiency of drug development, which could indirectly influence pricing[3].
Sources
- FindACode - Dr. Reddy's Laboratories Inc.
- DrugPatentWatch - Latest pharmaceutical drug prices and trends for NDC 43598-0358
- PwC - Pharma industry trends: Five transformative trends shaping 2025 and beyond
- DrugPatentWatch - Market Analysis and Financial Projection for Drug NDC: 43547-0599
- FDA - National Drug Code Database Background Information
