Introduction
The drug with the National Drug Code (NDC) 65162-0683 is Diclofenac Sodium, manufactured by Amneal Pharmaceuticals LLC. This analysis will delve into the current market dynamics, historical price trends, and potential future price projections for this drug.
Understanding the NDC
The NDC 65162-0683 is a unique identifier for Diclofenac Sodium, a nonsteroidal anti-inflammatory drug (NSAID) used to treat pain, inflammatory disorders, and other conditions. The NDC consists of three segments: the labeler code (65162), the product code, and the package code, each providing specific information about the drug product[4].
Market Context
Prescription Drug Price Trends
Prescription drug prices have been a significant concern in recent years. From January 2022 to January 2023, over 4,200 drug products experienced price increases, with 46% of these increases exceeding the rate of inflation. The average price increase during this period was 15.2%, translating to $590 per drug product[2].
Specific Trends for Multi-Source Drugs
Diclofenac Sodium, being a multi-source drug, tends to have higher percentage price increases compared to single-source drugs. However, the absolute dollar increases are generally lower for multi-source drugs. For instance, from January 2022 to January 2023, the average price increase for multi-source drugs was 26.0%, which equated to a $69 increase per drug product[2].
Historical Price Analysis for Diclofenac Sodium
Price Changes Over Time
Historical data shows that Diclofenac Sodium, like many other prescription drugs, has experienced periodic price adjustments. While specific price data for NDC 65162-0683 is not readily available, general trends indicate that multi-source drugs often see more frequent but smaller price increases compared to single-source drugs.
Seasonality of Price Increases
Price increases for prescription drugs, including Diclofenac Sodium, tend to cluster around certain times of the year. The largest number of price increases typically occurs in January and July, reflecting industry practices and regulatory considerations[2].
Current Market Dynamics
Supply Chain and Manufacturing
The pharmaceutical industry is increasingly focusing on optimizing supply chains and manufacturing processes using technology, including AI. This trend is crucial for maintaining supply chain resilience and reducing costs. Companies like Amneal Pharmaceuticals LLC are likely to benefit from these advancements, potentially stabilizing or reducing prices through increased efficiency[3].
Regulatory Environment
The regulatory landscape plays a significant role in drug pricing. Policies and legislation can impact the pricing strategies of pharmaceutical companies. For instance, inflation rebates and other regulatory measures can influence how companies set and adjust their drug prices[2].
Price Projections for NDC 65162-0683
Short-Term Projections
Given the historical trend of periodic price increases, especially in January and July, it is likely that Diclofenac Sodium (NDC 65162-0683) will experience a price increase in the short term. The average increase for multi-source drugs suggests a potential rise of around 20-30% over the next year, although this could be lower due to competitive market pressures.
Long-Term Projections
In the long term, the price of Diclofenac Sodium may stabilize or see more modest increases as the pharmaceutical industry continues to adopt cost-saving technologies and optimize supply chains. The industry's shift towards more efficient and patient-centric approaches, driven by AI and data analytics, could lead to more predictable and potentially lower price increases over time[3].
Impact of Technological Advancements
AI and Data Analytics
The integration of AI and data analytics in pharmaceutical R&D and supply chain management is expected to reduce costs and improve efficiency. Companies investing in these technologies, such as Amgen and Sanofi, have seen significant reductions in development costs and timelines. This could translate to more stable or reduced prices for drugs like Diclofenac Sodium in the future[3].
Conclusion
The price of Diclofenac Sodium (NDC 65162-0683) is influenced by a combination of market, regulatory, and technological factors. While short-term price increases are likely due to industry trends, long-term projections suggest a potential stabilization or reduction in price increases as the pharmaceutical industry adopts more efficient and cost-effective strategies.
Key Takeaways
- Historical Price Trends: Diclofenac Sodium has seen periodic price increases, particularly in January and July.
- Market Dynamics: The drug is part of the multi-source market, which tends to have higher percentage price increases but lower absolute dollar increases.
- Technological Impact: AI and data analytics are expected to reduce development costs and improve supply chain efficiency, potentially stabilizing or reducing prices.
- Regulatory Environment: Policies and legislation can significantly impact drug pricing strategies.
FAQs
What is the NDC 65162-0683?
The NDC 65162-0683 is the unique identifier for Diclofenac Sodium, a nonsteroidal anti-inflammatory drug manufactured by Amneal Pharmaceuticals LLC.
How often do prescription drug prices increase?
Prescription drug prices, including those for Diclofenac Sodium, tend to increase more frequently in January and July.
What role does AI play in drug pricing?
AI and data analytics are being used to reduce drug development costs and improve supply chain efficiency, which could lead to more stable or lower prices in the future.
How does the regulatory environment affect drug prices?
The regulatory environment, including policies and legislation, can significantly influence how pharmaceutical companies set and adjust their drug prices.
What are the potential long-term price projections for Diclofenac Sodium?
Long-term projections suggest that the price of Diclofenac Sodium may stabilize or see more modest increases as the industry adopts more efficient and cost-effective strategies driven by AI and data analytics.
Sources
- Amneal Pharmaceuticals LLC - List of Drugs - NDC Labeler: FindACode.
- Changes in the List Prices of Prescription Drugs, 2017-2023: ASPE.
- Exploring 2025 pharma industry trends, outlook and strategies: ZS.
- National Drug Code Database Background Information - FDA: FDA.
