Understanding the National Drug Code (NDC)
The National Drug Code (NDC) is a unique identifier assigned to each drug product, including the labeler, product, and packaging. For the drug with the NDC 50419-0392, this code corresponds to VITRAKVI, a 20mg/mL oral solution manufactured by Bayer HealthCare Pharmaceuticals, Inc.[1].
Drug Overview
VITRAKVI is used for the treatment of certain types of cancer, specifically those with a specific genetic mutation. The drug's efficacy and the growing demand for targeted therapies have made it a significant player in the oncology market.
Market Analysis
Current Pricing
As of the latest data, the prices for VITRAKVI (NDC 50419-0392) vary based on the pricing type and the period.
- Federal Supply Schedule (FSS) Prices: The price per unit has ranged from $144.32 to $154.15 between 2020 and 2025[1].
- Big 4 Prices: These prices have fluctuated between $85.37 and $109.49 per unit over the same period[1].
Market Trends
The pharmaceutical market, particularly for biologic and precision medicines, is experiencing significant growth. The biopharma market size was estimated to be over $400 billion in 2024, with a projected compound annual growth rate (CAGR) of 7.56% between 2024 and 2029[3].
Factors Influencing Price Projections
Regulatory Changes
Changes in regulatory policies, such as updates to the Medicaid Drug Rebate Program, can significantly impact drug prices. These changes can lead to variations in pricing strategies and rebates, affecting the overall cost to consumers[2].
Technological Advancements
Advancements in clinical trial designs, precision medicine, and AI/ML technologies are reshaping the drug development landscape. These innovations can lead to more efficient and cost-effective drug development processes, potentially influencing future price projections[3].
Global Pricing Comparisons
The U.S. market is known for having higher drug prices compared to other regions. For example, 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.) in 2022[4].
Price Projections
Short-Term Projections
Given the current pricing trends, it is likely that the prices for VITRAKVI will continue to fluctuate based on the pricing type. For FSS prices, a range of $150 to $160 per unit is plausible, while Big 4 prices might range from $90 to $110 per unit in the short term.
Long-Term Projections
Considering the growth in the biopharma market and the increasing adoption of precision medicines, long-term price projections may see a stabilization or slight increase. However, this could be mitigated by regulatory changes and advancements in technology that enhance efficiency and reduce costs.
Market Size and Growth
The biopharma and biotech industries are experiencing rapid growth, driven by technological advancements and evolving regulatory frameworks. The market size for biotech was nearly $500 billion in 2020, with an estimated CAGR of 9.4% between 2021 and 2027[3].
Competitive Landscape
The competitive landscape for targeted cancer therapies is becoming increasingly complex. New entrants and innovative treatments are emerging, which could impact the market share and pricing of existing drugs like VITRAKVI.
Patient-Centered Care and Clinical Trials
The shift towards patient-centered care in clinical trials is expected to continue in 2025. This could lead to more personalized and efficient treatment options, potentially affecting the demand and pricing of drugs like VITRAKVI[3].
Key Takeaways
- Current Pricing: VITRAKVI prices vary significantly based on pricing types, with FSS prices ranging from $144.32 to $154.15 per unit.
- Market Trends: The biopharma market is growing rapidly, driven by technological advancements and regulatory changes.
- Regulatory Impact: Changes in regulatory policies can significantly influence drug prices.
- Global Pricing: U.S. drug prices are significantly higher than those in other regions.
- Long-Term Projections: Prices may stabilize or slightly increase in the long term, influenced by market growth and technological advancements.
FAQs
Q: What is the current price range for VITRAKVI (NDC 50419-0392)?
A: The current price range for VITRAKVI varies between $85.37 and $154.15 per unit, depending on the pricing type.
Q: How do regulatory changes impact drug prices?
A: Regulatory changes, such as updates to the Medicaid Drug Rebate Program, can significantly impact drug prices by affecting rebates and pricing strategies.
Q: Why are drug prices in the U.S. higher than in other regions?
A: Drug prices in the U.S. are higher due to a combination of higher prices for the same drugs and a drug mix that skews towards more expensive compounds[4].
Q: What are the key drivers of growth in the biopharma market?
A: The biopharma market is driven by technological advancements, evolving regulatory frameworks, and a shift towards patient-centered care in clinical trials[3].
Q: How might technological advancements affect future drug prices?
A: Technological advancements, such as more efficient clinical trial designs and the use of AI/ML technologies, could lead to cost reductions and more efficient drug development processes, potentially stabilizing or reducing future drug prices.
Sources
- DrugPatentWatch, "Latest drug prices and trends for NDC 50419-0392".
- DrugPatentWatch, "Latest drug prices and trends for NDC 50419-0393".
- TFS CRO, "5 Predictions for the Biopharma and Biotech Industries in 2025".
- ASPE, "International Market Size and Prices".
