Introduction
The drug with the National Drug Code (NDC) 68308-0701 is Ivermectin, manufactured by Mayne Pharma Inc. This analysis will delve into the market dynamics, pricing trends, and projections for this specific drug.
Drug Overview
Ivermectin is an antiparasitic medication used to treat various infections caused by parasites. It is widely used in both human and veterinary medicine. The NDC 68308-0701 specifically refers to the formulation of Ivermectin produced by Mayne Pharma Inc.[1].
Market Trends
Global Pharmaceutical Market
The global pharmaceutical market has seen significant growth over the past few years, driven by increasing demand for healthcare services and advancements in drug development. However, the market is also characterized by high prices in the U.S. compared to other regions. For instance, 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[4].
Segment Analysis
Ivermectin falls under the category of small molecule drugs. In the U.S., sales revenues for small molecule drugs have shown a modest growth of 4% between 2017 and 2022, in contrast to contractions in other parts of the world. This indicates a stable demand for such drugs in the U.S. market[4].
Pricing Trends
Historical Pricing
Pricing data for specific NDC codes can be volatile and subject to various market and regulatory factors. However, general trends in the pharmaceutical industry suggest that prices for generic and off-patent drugs like Ivermectin tend to be more stable compared to brand-name or biologic drugs.
Comparative Pricing
While specific pricing data for NDC 68308-0701 is not readily available, it is important to note that prices for generic drugs are generally lower and more stable. For example, the price of Dapsone 5% Gel, another generic drug, has shown minor fluctuations over recent months, ranging from $1.37 to $1.87 per gram[2].
Price Projections
Short-Term Projections
Given the stable nature of generic drug prices, it is likely that the price of Ivermectin (NDC 68308-0701) will remain relatively stable in the short term. Any significant changes would likely be driven by external factors such as changes in raw material costs, manufacturing efficiencies, or regulatory changes.
Long-Term Projections
In the long term, the adoption of artificial intelligence (AI) and data analytics in the pharmaceutical industry could influence pricing. For instance, AI could help in optimizing production processes, reducing costs, and potentially leading to more competitive pricing. However, the impact of AI on pricing will depend on how widely and effectively these technologies are adopted[3].
Market Drivers and Challenges
Drivers
- Increasing Demand: The ongoing need for effective antiparasitic treatments drives the demand for Ivermectin.
- Advancements in Technology: The use of AI and data analytics can improve manufacturing efficiency and reduce costs.
- Regulatory Environment: Stable regulatory frameworks can support consistent pricing and availability.
Challenges
- Price Volatility: While less common for generic drugs, price volatility can occur due to changes in market conditions or regulatory actions.
- Competition: The presence of multiple manufacturers can lead to competitive pricing pressures.
- Global Health Trends: Changes in global health priorities and disease prevalence can impact demand and pricing.
Expert Insights
Industry experts predict that the use of AI and external data will become more prevalent in the pharmaceutical industry. For example, Dimitrios Skaltsas, Co-Founder and CEO of Intelligencia.ai, suggests that the adoption of AI in standard operations will double in 2025, which could have implications for drug pricing and availability[3].
Key Takeaways
- Stable Pricing: Generic drugs like Ivermectin tend to have stable prices.
- Market Trends: The U.S. market shows higher prices compared to other regions.
- Technological Impact: AI and data analytics could optimize production and influence pricing in the long term.
- Regulatory Stability: A stable regulatory environment supports consistent pricing and availability.
FAQs
What is the primary use of Ivermectin?
Ivermectin is primarily used as an antiparasitic medication to treat various infections caused by parasites.
How does the price of Ivermectin compare to other generic drugs?
The price of Ivermectin is generally stable and lower compared to brand-name or biologic drugs. It is similar to other generic drugs in terms of pricing stability.
What role does AI play in the pharmaceutical industry?
AI is increasingly used in the pharmaceutical industry for optimizing production processes, reducing costs, and improving decision-making through data analytics.
Why are drug prices higher in the U.S. compared to other regions?
Drug prices in the U.S. are higher due to a combination of factors including a drug mix that skews towards more expensive compounds and higher prices for the same drugs compared to other regions[4].
How do regulatory changes affect drug pricing?
Regulatory changes can significantly impact drug pricing by influencing manufacturing costs, market competition, and the overall availability of drugs.
Sources
- Find-A-Code: Mayne Pharma - List of Drugs - NDC Labeler/Manufacturer.
- DrugPatentWatch: Latest drug prices and trends for NDC 51672-1387.
- Intelligencia.ai: 2025 Pharma Predictions: AI, Health Tech, and Data Trends to Watch.
- ASPE: ISSUE BRIEF - International Market Size and Prices.
- DailyMed: NYSTATIN powder - DailyMed.
