Market Analysis and Price Projections for the Drug NDC: 50742-634 (Metformin Extended Release)
Introduction
The pharmaceutical market is a complex and dynamic sector, influenced by various factors including regulatory changes, technological advancements, and economic trends. This analysis focuses on the market and price projections for Metformin Extended Release, identified by the National Drug Code (NDC) 50742-634.
Overview of Metformin Extended Release
Metformin Extended Release, with the NDC 50742-634, is a human prescription drug manufactured by Ingenus Pharmaceuticals, LLC. It is classified as a biguanide and is used primarily in the treatment of type 2 diabetes mellitus[1].
Current Market Trends
The pharmaceutical industry is experiencing several key trends that could impact the pricing and market position of Metformin Extended Release.
Drug Price Inflation
According to Vizient's summer Pharmacy Market Outlook, the overall drug price inflation rate for pharmaceuticals is projected to be 3.81% in 2025. This inflation is partly driven by the expanding indications of previously approved medications and the introduction of high-cost cell and gene therapies[2].
Generic and Biosimilar Competition
The life sciences industry is facing significant competition from generic drugs and biosimilars. Nearly 37% of C-suite executives view this competition as a top trend, which could affect the pricing strategy for Metformin Extended Release. The patent cliff, with over $300 billion in sales at risk through 2030 due to expiring patents, is also a critical factor[3].
Pricing and Access
Pricing and access to drugs are identified as the most significant issues facing the life sciences industry. Nearly half of the surveyed executives expect these factors to significantly impact their strategies in 2025. This could lead to a more competitive pricing environment for Metformin Extended Release[3].
Market Projections
Given the current trends, here are some key projections for Metformin Extended Release:
Price Stability
Despite the overall drug price inflation, generic and biosimilar competition may help stabilize or even reduce the prices of Metformin Extended Release. The presence of multiple generic versions of metformin in the market can drive down prices due to increased competition.
Market Demand
The demand for metformin is expected to remain strong due to its widespread use in treating type 2 diabetes. However, the introduction of new therapeutic options, such as GLP-1 receptor agonists, which are being evaluated for a wide range of conditions including obesity and other metabolic disorders, could potentially impact the market share of metformin[3].
Regulatory Environment
The FDA's regulatory framework, including the National Drug Code Directory, ensures that all drugs, including Metformin Extended Release, are properly listed and monitored. This regulatory oversight helps maintain market integrity and ensures that drugs meet safety and efficacy standards[5].
Impact of Technological and Scientific Innovations
Technological advancements, such as digital transformation and the integration of AI, are expected to enhance operational efficiencies and drive innovations in the life sciences industry. While these innovations may not directly impact the pricing of Metformin Extended Release, they could improve the overall efficiency of drug development and manufacturing processes, potentially leading to cost savings that could be passed on to consumers[3].
Competitive Landscape
The competitive landscape for metformin is characterized by multiple generic manufacturers. This competition is likely to keep prices in check. However, the entry of new therapeutic options and the expansion of indications for existing drugs could alter the market dynamics and influence pricing strategies.
Key Takeaways
- Price Stability: Expected due to generic and biosimilar competition.
- Market Demand: Strong demand for metformin due to its widespread use in treating type 2 diabetes.
- Regulatory Environment: FDA oversight ensures market integrity and safety.
- Technological Innovations: Potential for cost savings through improved operational efficiencies.
- Competitive Landscape: Multiple generic manufacturers keep prices competitive.
FAQs
Q: What is the NDC for Metformin Extended Release?
A: The NDC for Metformin Extended Release is 50742-634[1].
Q: Who manufactures Metformin Extended Release with NDC 50742-634?
A: It is manufactured by Ingenus Pharmaceuticals, LLC[1].
Q: What is the projected drug price inflation rate for 2025?
A: The projected drug price inflation rate for 2025 is 3.81% according to Vizient's summer Pharmacy Market Outlook[2].
Q: How does generic and biosimilar competition affect the pricing of Metformin Extended Release?
A: Generic and biosimilar competition is likely to stabilize or reduce the prices of Metformin Extended Release due to increased market competition[3].
Q: What are the key factors influencing the life sciences industry in 2025?
A: Pricing and access to drugs, competition from generics and biosimilars, and the patent cliff are significant factors influencing the life sciences industry in 2025[3].
Sources
- FDA Report: NDC 50742-634 Oral Tablet, Extended Release Metformin Drug.
- Vizient Inc.: Vizient projects drug price inflation at 3.81%.
- Deloitte Insights: 2025 life sciences outlook.
- GlobeNewswire: Myelodysplastic Syndrome (MDS) Drugs Market Trends and Sales Forecast to 2030.
- FDA: National Drug Code Directory.
