Market Analysis and Price Projections for NDC: 65162-0681 (Phenazopyridine Hydrochloride)
Introduction
Phenazopyridine Hydrochloride, with the National Drug Code (NDC) 65162-0681, is a medication manufactured by Amneal Pharmaceuticals LLC. This drug is commonly used to relieve pain, burning, and the frequent need to urinate associated with urinary tract infections.
Market Overview
Prescription Drug Market Trends
The prescription drug market is characterized by significant price variations and growth trends. In the U.S., prescription drug prices have seen an average increase of 14% between 2017 and 2022, which is substantially higher than in other OECD countries and the rest of the world[4].
Specific Drug Pricing
Phenazopyridine Hydrochloride, being a generic medication, generally has lower prices compared to brand-name and biologic drugs. However, price transparency and reporting requirements, such as those mandated by the Oregon Prescription Drug Price Transparency Act, reveal that even generic drugs can experience significant price fluctuations. For instance, annual price increases for drugs costing more than $100 a month and experiencing a 10% net increase are closely monitored and reported[2].
Price Factors Influencing Phenazopyridine Hydrochloride
Manufacturing and Distribution Costs
The price of Phenazopyridine Hydrochloride is influenced by various factors, including manufacturing costs, distribution fees, and rebates. Pharmaceutical manufacturers often attribute price increases to research and development costs, obligations to shareholders, and the use of co-pay assistance programs[2].
Market Competition
The generic drug market is highly competitive, which can impact pricing. The presence of multiple manufacturers for Phenazopyridine Hydrochloride, such as Amneal Pharmaceuticals LLC, can lead to price stability or even reductions due to competition[5].
Regulatory Environment
Regulatory changes and transparency initiatives can also affect drug prices. For example, the Prescription Drug Price Transparency Act in Oregon requires detailed reporting on drug prices, which can lead to greater accountability and potentially influence pricing strategies[2].
Price Projections
Historical Pricing
Historically, generic drugs like Phenazopyridine Hydrochloride have seen relatively stable prices compared to brand-name drugs. However, there can be occasional price increases due to various market and regulatory factors.
Future Trends
Given the current trends, here are some potential price projections for Phenazopyridine Hydrochloride:
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Short-Term Projections: In the short term, prices for Phenazopyridine Hydrochloride are likely to remain stable or see minor adjustments. This stability is due to the competitive nature of the generic drug market and the lack of significant changes in manufacturing or distribution costs.
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Long-Term Projections: Over the long term, prices could be influenced by broader market trends, such as changes in regulatory policies, advancements in manufacturing technologies, or shifts in global supply chains. For instance, if there is an increase in the cost of raw materials or a reduction in competition due to market consolidation, prices could rise.
Industry Predictions and Impact
Role of AI and Data Analytics
The pharmaceutical industry is increasingly adopting artificial intelligence (AI) and data analytics to optimize operations and make informed decisions. This trend could lead to more efficient manufacturing processes and better pricing strategies, potentially stabilizing or reducing prices for drugs like Phenazopyridine Hydrochloride[3].
Global Pricing Comparisons
The significant price disparities between the U.S. and other countries highlight the need for a more nuanced approach to drug pricing. For example, the average price per unit in the U.S. is 5.5 times higher than in the OECD (excluding the U.S.) and 7.7 times higher than in the rest of the world. This disparity could lead to policy changes that impact pricing globally[4].
Consumer and Health Insurance Impact
Consumer Reporting and Transparency
Consumers play a crucial role in reporting price increases, which helps in maintaining transparency. Programs like the Oregon Prescription Drug Price Transparency Act ensure that consumers are aware of price changes and can make informed decisions about their healthcare spending[2].
Health Insurance Coverage
Health insurance companies also report on the top drugs by frequency of prescription, cost, and impact on insurance spending. This reporting helps in understanding the broader financial implications of drug pricing on healthcare systems[2].
Key Takeaways
- Market Stability: The generic drug market, including Phenazopyridine Hydrochloride, is generally stable but can be influenced by various market and regulatory factors.
- Regulatory Impact: Transparency initiatives and regulatory changes can significantly impact drug pricing.
- Technological Advancements: The adoption of AI and data analytics could lead to more efficient manufacturing and pricing strategies.
- Global Pricing Disparities: Significant price differences between the U.S. and other countries highlight the need for a more balanced approach to drug pricing.
FAQs
Q: What is Phenazopyridine Hydrochloride used for?
A: Phenazopyridine Hydrochloride is used to relieve pain, burning, and the frequent need to urinate associated with urinary tract infections.
Q: How does the generic drug market influence the price of Phenazopyridine Hydrochloride?
A: The generic drug market is highly competitive, which generally keeps prices stable or lower compared to brand-name drugs.
Q: What regulatory initiatives impact the pricing of Phenazopyridine Hydrochloride?
A: Initiatives like the Oregon Prescription Drug Price Transparency Act require detailed reporting on drug prices, which can lead to greater accountability and influence pricing strategies.
Q: How does the adoption of AI and data analytics affect drug pricing?
A: The adoption of AI and data analytics can lead to more efficient manufacturing processes and better pricing strategies, potentially stabilizing or reducing prices.
Q: Why are drug prices in the U.S. significantly higher than in other countries?
A: Drug prices in the U.S. are influenced by a variety of factors including higher research and development costs, different regulatory environments, and the drug mix in the U.S. market, which tends to include more expensive drug compounds[4].
Sources
- Medicaid Drug Rebate Program Release Number 136 - Medicaid.gov
- Prescription Drug Price Transparency Results and Recommendations - Oregon Department of Consumer and Business Services
- 2025 Pharma Predictions: AI, Health Tech, and Data Trends to Watch - Intelligencia.ai
- International Market Size and Prices - ASPE
- Amneal Pharmaceuticals LLC - List of Drugs - NDC Labeler - FindACode.com
