Market Analysis and Price Projections for NDC: 69367-0191
Introduction
The National Drug Code (NDC) 69367-0191 corresponds to Phenazopyridine Hydrochloride, a drug manufactured by Westminster Pharmaceuticals, LLC. This analysis will delve into the market dynamics, pricing trends, and projections for this specific drug.
Market Context
Phenazopyridine Hydrochloride is used to relieve pain, burning, and the frequent need to urinate associated with urinary tract infections. It is a common over-the-counter (OTC) medication.
Global Prescription Drug Market
The global prescription drug market has seen significant growth over the past few years. According to the ASPE analysis, the U.S. prescription drug market has grown substantially, with sales revenues increasing by 22% between 2017 and 2022. However, this growth is largely driven by price increases rather than volume growth, as the average price per unit in the U.S. increased by 14% during the same period[3].
U.S. Market Specifics
In the U.S., prescription drug prices are notably higher compared to other countries. For instance, by 2022, prices in the U.S. were 5.5 times those in the OECD (excluding the U.S.) and 7.7 times prices in the rest of the world (excluding the U.S.)[3].
Pricing Trends for Phenazopyridine Hydrochloride
Historical Pricing
To understand the pricing trends for NDC 69367-0191, it is essential to look at historical data. While specific historical pricing data for this NDC is not readily available, the broader trend for generic drugs can provide some insight. Generic drugs, which include Phenazopyridine Hydrochloride, have seen significant price fluctuations. For example, the median price increase for generic drugs reported in Oregon was 19.9% in 2022, with some generic drugs experiencing much higher increases, such as a 2,527% increase for a generic naproxen[2].
Current Pricing
As of the latest available data, the Wholesale Acquisition Cost (WAC) for Phenazopyridine Hydrochloride would need to be checked through current market databases or the FDA's New NDC Directory, which is updated daily[1].
Factors Influencing Pricing
Regulatory Environment
The pricing of prescription drugs, including Phenazopyridine Hydrochloride, is influenced by regulatory policies. For instance, Oregon's Drug Price Transparency Program requires manufacturers to report price increases and new high-cost drugs, which can impact pricing transparency and potentially influence price setting[2].
Supply Chain Dynamics
The pharmaceutical supply chain, including interactions between manufacturers, pharmacy benefit managers (PBMs), and health insurers, plays a crucial role in determining drug prices. Factors such as rebates, discounts, and fees can significantly affect the final cost to consumers[2].
Market Competition
The level of competition in the market for Phenazopyridine Hydrochloride can also impact pricing. Since it is a generic drug, there may be multiple manufacturers, which could lead to competitive pricing. However, market dominance by a few key players can sometimes limit competition and drive up prices.
Price Projections
Short-Term Projections
Given the current trends, it is likely that the price of Phenazopyridine Hydrochloride will continue to be influenced by the broader generic drug market. With median price increases for generic drugs around 19.9%, it is plausible that the price of NDC 69367-0191 could see a similar increase in the short term.
Long-Term Projections
In the long term, several factors could influence the price of Phenazopyridine Hydrochloride:
- Regulatory Changes: Implementing policies like upper payment limits or enhanced transparency measures could cap price increases.
- Market Dynamics: Changes in market competition or the introduction of new drugs could affect pricing.
- Global Trends: The ongoing disparity in drug prices between the U.S. and other countries may lead to policy changes that could impact pricing in the U.S.[3].
Key Takeaways
- Market Growth: The U.S. prescription drug market is growing, driven more by price increases than volume.
- Pricing Trends: Generic drugs, including Phenazopyridine Hydrochloride, have seen significant price increases.
- Regulatory Impact: Policies aimed at transparency and affordability could influence future pricing.
- Supply Chain: The complex interactions within the pharmaceutical supply chain affect final drug prices.
FAQs
What is the current Wholesale Acquisition Cost (WAC) for Phenazopyridine Hydrochloride (NDC 69367-0191)?
The current WAC would need to be checked through the FDA's New NDC Directory or current market databases.
How do regulatory policies impact the pricing of Phenazopyridine Hydrochloride?
Regulatory policies, such as those implemented by Oregon's Drug Price Transparency Program, can influence pricing by requiring transparency and potentially capping price increases.
What factors contribute to the high prices of prescription drugs in the U.S. compared to other countries?
Factors include higher average prices, a drug mix that skews towards more expensive compounds, and the complex interactions within the pharmaceutical supply chain[3].
Can market competition affect the price of Phenazopyridine Hydrochloride?
Yes, market competition can impact pricing. Multiple manufacturers can lead to competitive pricing, but market dominance by a few players can limit competition and drive up prices.
What are the long-term projections for the price of Phenazopyridine Hydrochloride?
Long-term projections depend on regulatory changes, market dynamics, and global trends. Policies aimed at transparency and affordability, changes in market competition, and global pricing disparities could all influence future pricing.
Sources
- FDA New NDC Directory: YouTube, March 2015.
- Prescription Drug Price Transparency Results and Recommendations: Oregon Drug Price Transparency Program, November 2022.
- International Market Size and Prices: ASPE, December 2024.
- Westminster Pharmaceuticals, LLC - List of Drugs: FindACode.
