Market Analysis and Price Projections for NDC 55111-0293
Understanding the National Drug Code (NDC)
To analyze the market and price projections for a specific 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 serves as the FDA’s identifier for drugs. It includes the labeler code, product code, and package code, providing detailed information about the drug product, its manufacturer, and its packaging[1][4].
Identifying the Drug
The NDC 55111-0293 is associated with a specific drug product. To identify this drug, one would typically refer to the FDA's National Drug Code Directory or other pharmaceutical databases. However, without direct access to these databases in this context, we can infer general trends and factors that influence drug pricing.
Market Trends in Pharmaceutical Pricing
Overall Market Growth
The pharmaceutical market, including prescription drugs, is expected to grow significantly. For instance, the overall prescription drug market is projected to grow at a Compound Annual Growth Rate (CAGR) of 9% through 2030[5].
Specialty Pharmaceuticals
Specialty pharmaceuticals, which often treat complex or chronic conditions, are a significant driver of this growth. Vizient, Inc. projects a 3.8% increase in drug price inflation, largely driven by specialty pharmacy, including weight loss drugs and gene therapies[3].
Price Increases and Volatility
Historical data shows that brand-name prescription drugs can experience extraordinary price increases. Between 2000 and 2008, 416 brand-name drug products had such increases, with many occurring in therapeutic classes like central nervous system agents, anti-infective agents, and cardiovascular agents. Most of these increases were for drugs costing less than $25 per unit[2].
Factors Influencing Drug Prices
Therapeutic Class
Drugs in certain therapeutic classes, such as central nervous system agents and anti-infective agents, are more likely to experience significant price increases[2].
Packaging and Repackaging
Repackaged brand-name drug products are also more prone to extraordinary price increases. This is because repackaging can introduce additional costs and complexities[2].
Regulatory and Market Dynamics
The introduction of biosimilars can impact the pricing of originator drugs. For example, biosimilars for drugs like Humira are expected to gain market share, potentially reducing the prices of these drugs as competition increases[3].
Economic and Supply Chain Factors
Economic conditions, such as drug shortages and supply chain disruptions, can also influence drug prices. Managing pharmacy expenditures and strengthening the supply chain are critical in mitigating these impacts[3].
Price Projections for NDC 55111-0293
General Projections
Given the overall trend of a 3.8% increase in drug price inflation, it is reasonable to expect that the price of the drug associated with NDC 55111-0293 could also increase. However, the exact magnitude would depend on specific factors such as the therapeutic class, packaging, and market competition.
Therapeutic Class Impact
If the drug falls within a therapeutic class that has historically seen significant price increases (e.g., central nervous system agents), it may be more likely to experience higher price growth.
Biosimilar and Generic Competition
If biosimilars or generic versions of the drug become available, this could lead to a reduction in price as competition increases.
Example Pricing Trends
To illustrate how prices can fluctuate, consider the example of Linezolid (NDC 00054-0319), where the price per unit has varied over time due to market and economic factors. For instance, the price of Linezolid 100 MG/5 ML suspension has fluctuated between $1.69 and $2.58 per unit over different dates[5].
Key Takeaways
- Market Growth: The pharmaceutical market is expected to grow, driven by specialty pharmaceuticals.
- Price Volatility: Drugs can experience significant price increases, especially in certain therapeutic classes.
- Regulatory Impact: The introduction of biosimilars and generic drugs can reduce prices.
- Economic Factors: Supply chain disruptions and economic conditions can influence drug prices.
- Specific Projections: Without specific data on NDC 55111-0293, general trends suggest a potential increase in line with the overall market growth rate.
FAQs
Q1: What is the National Drug Code (NDC)?
The NDC is a unique, three-segment number that identifies a drug product, including the labeler, product, and package code.
Q2: How often is the NDC Directory updated?
The NDC Directory is updated daily to reflect the latest information submitted by drug establishments[1].
Q3: What factors contribute to extraordinary price increases in brand-name drugs?
Factors include therapeutic class, cost per unit, and repackaging. Most increases occur in drugs costing less than $25 per unit and in specific therapeutic classes like central nervous system agents[2].
Q4: How do biosimilars impact drug prices?
Biosimilars can reduce the prices of originator drugs by increasing competition. For example, biosimilar adalimumab products are expected to gain market share, potentially reducing the dominance and prices of Humira[3].
Q5: What economic factors can influence drug prices?
Economic factors such as drug shortages, supply chain disruptions, and overall market conditions can significantly impact drug prices[3].
