Introduction
Gabapentin, a medication primarily used to treat epilepsy, neuropathic pain, and in some cases, anxiety disorders, is manufactured and distributed by various pharmaceutical companies, including Exelan Pharmaceuticals, Inc. under the NDC code 76282-0707. Here, we will delve into the market analysis and price projections for this specific drug.
Market Trends in the Pharmaceutical Industry
The pharmaceutical industry is undergoing significant transformations, influenced by several key trends:
Continued Dominance of Small Molecule Drugs
Small molecule drugs, like gabapentin, continue to dominate the market due to their efficacy, cost-effectiveness, and widespread use. This trend is expected to persist in 2024, with small molecule drugs remaining a cornerstone of pharmaceutical treatment options[3].
Increasing Adoption of Biologics and Personalized Medicine
While biologics and personalized medicine are gaining traction, small molecule drugs like gabapentin will still maintain their market share. However, the increasing use of biologics and personalized medicine may influence the overall pharmaceutical market dynamics[3].
Drug Price Inflation
Overall Pharmaceutical Market
Vizient, Inc. projects a 3.81% drug price inflation rate for 2025, driven by factors such as expanding indications for previously approved medications and the introduction of high-cost cell and gene therapies. This inflation rate can impact the pricing strategies of generic drugs like gabapentin[2].
Specific Market Analysis for Gabapentin
Current Market Status
Gabapentin is a well-established drug with a broad range of applications. As a generic medication, its prices are generally lower compared to branded or innovative therapies. Exelan Pharmaceuticals, Inc. is one of the manufacturers of gabapentin, and their product is identified by the NDC code 76282-0707[1].
Price Stability
Generic drugs like gabapentin typically experience stable pricing due to market competition. However, minor fluctuations can occur based on production costs, regulatory changes, and market demand.
Impact of Patent Expirations and Generic Competition
The patent for gabapentin expired many years ago, leading to a highly competitive generic market. This competition generally keeps prices stable and affordable. However, any significant changes in raw material costs or manufacturing processes could influence pricing[4].
Price Projections
Short-Term Projections
Given the stable nature of the generic drug market, it is unlikely that the price of gabapentin (NDC: 76282-0707) will see significant increases in the short term. The projected 3.81% drug price inflation rate for 2025 is more relevant to innovative and high-cost therapies rather than generic drugs like gabapentin[2].
Long-Term Projections
In the long term, the price of gabapentin is expected to remain relatively stable. Any changes will likely be minimal and influenced by broader market factors such as changes in regulatory policies, shifts in global supply chains, or significant advancements in manufacturing technologies.
Regulatory and Market Dynamics
National Drug Code (NDC) and Regulatory Compliance
The NDC code 76282-0707 ensures that gabapentin manufactured by Exelan Pharmaceuticals, Inc. meets FDA standards. Compliance with FDA regulations is crucial for maintaining market presence and ensuring the quality of the drug[5].
Market Competition
The generic gabapentin market is highly competitive, with multiple manufacturers. This competition helps in keeping prices low and ensures a stable supply of the medication.
Conclusion
The market for gabapentin (NDC: 76282-0707) is characterized by stability and competition. While the overall pharmaceutical market may experience inflation and significant changes, the generic nature of gabapentin is likely to keep its prices relatively stable.
Key Takeaways
- Stable Pricing: Generic drugs like gabapentin tend to have stable prices due to market competition.
- Minimal Inflation Impact: The projected 3.81% drug price inflation rate is less relevant to generic drugs.
- Regulatory Compliance: Adherence to FDA regulations is crucial for maintaining market presence.
- Market Competition: Multiple manufacturers ensure a stable supply and competitive pricing.
FAQs
Q: What is the NDC code for gabapentin manufactured by Exelan Pharmaceuticals, Inc.?
A: The NDC code is 76282-0707.
Q: How is the price of gabapentin expected to change in the short term?
A: The price is expected to remain relatively stable due to market competition.
Q: What factors could influence the long-term price of gabapentin?
A: Changes in regulatory policies, shifts in global supply chains, or significant advancements in manufacturing technologies could influence the price.
Q: Why is the generic gabapentin market competitive?
A: The market is competitive because the patent for gabapentin has expired, allowing multiple manufacturers to produce the drug.
Q: How does the FDA ensure the quality of gabapentin?
A: The FDA ensures quality through the National Drug Code (NDC) system and regulatory compliance requirements.
Sources
- FindACode: EXELAN PHARMACEUTICALS, INC. - List of Drugs - NDC Labeler.
- Vizient, Inc.: Vizient projects drug price inflation at 3.81%.
- Global Pharma Tek: Top 12 Pharmaceutical Industry Trends in 2024.
- Drug Development: NSCLC MARKET - Global Drug Forecast & Market Analysis to 2025.
- FDA: National Drug Code Database Background Information.
