You're using a free limited version of DrugPatentWatch: Upgrade for Complete Access

Last Updated: January 5, 2025

Drug Price Trends for NDC 83324-0064


✉ Email this page to a colleague

« Back to Dashboard


Best Wholesale Price for NDC 83324-0064

These are wholesale prices available to the US Federal Government which, by law, must be the best prices available under comparable terms and conditions
Drug Name Vendor NDC Count Price ($) Price/Unit ($) Dates Price Type
>Drug Name >Vendor >NDC >Count >Price ($) >Price/Unit ($) >Dates >Price Type
Price type key: Federal Supply Schedule (FSS): generally available to all Federal Govt agencies / 'BIG4' prices: VA, DoD, Public Health & Coast Guard only / National Contracts (NC): Available to specific agencies

83324-0064 Market Analysis and Financial Projection

Market Analysis and Price Projections for the Drug NDC: 83324-0064

Understanding the NDC System

To analyze the market and price projections for a specific drug identified by its National Drug Code (NDC), it is crucial to understand the NDC system. The NDC is a unique 10-digit, 3-segment number that identifies the labeler, product, and trade package size of a drug. This includes the labeler code, product code, and package code[5].

Identifying the Drug

The NDC 83324-0064 can be broken down as follows:

  • Labeler Code: The first segment identifies the manufacturer or distributor.
  • Product Code: The second segment specifies the strength, dosage form, and formulation.
  • Package Code: The third segment indicates the package size and type.

Current Market Trends

Pharmaceutical Industry Outlook

The pharmaceutical industry is expected to experience a stable credit outlook in 2024, driven by revenue growth that mitigates various pressures. In the generic drug sector, which is often commodity-like, mid-single-digit percent annual price erosion is anticipated, along with a return to modest revenue growth. This trend suggests that prices for generic drugs, including those with specific NDCs, may decrease slightly but remain relatively stable[3].

Gene Therapy and Advanced Treatments

The rise of gene therapies and other advanced treatments is transforming healthcare but also introduces significant cost challenges. For instance, a recently approved gene therapy for a rare neurological disorder costs $4.25 million, highlighting the need for sustainable financial models in healthcare. While this does not directly impact the price of drugs with NDCs like 83324-0064, it indicates a broader trend of increasing costs for innovative treatments[2].

Price Projections

Overall Drug Price Inflation

For the period from January 1, 2025, to December 31, 2025, the overall drug price inflation rate is projected to be 0.00%, indicating no significant increase in drug prices across the board. This projection suggests that the price of the drug with NDC 83324-0064 is unlikely to see a substantial increase in the near future[2].

Generic Drug Price Erosion

In the generic drug sector, mid-single-digit percent annual price erosion is expected. If the drug with NDC 83324-0064 is a generic, it may experience a slight decrease in price due to this erosion. However, this erosion is balanced by modest revenue growth, which could stabilize the market[3].

Methodology for Price Review

To determine if a drug's price has significantly increased, methodologies such as those used by the Washington State Health Care Authority can be applied. For example, a drug's price increase is reviewed if it exceeds 15% in any 12-month period or shows a 50% cumulative increase over three years. If the drug with NDC 83324-0064 has experienced such price increases, it may be subject to affordability reviews and potential price adjustments[4].

Potential Risks and Challenges

Price-Fixing Litigation and FDA Inspections

The generic drug industry faces risks such as price-fixing litigation and potential increases in FDA inspections of foreign manufacturing facilities. These factors could impact the stability of drug prices, including those with specific NDCs, by introducing regulatory and legal uncertainties[3].

Market Insights and Projections

Given the stable credit outlook and the specific trends in the generic drug sector, here are some key insights and projections for the drug with NDC 83324-0064:

  • Price Stability: The overall drug price inflation rate of 0.00% for 2025 suggests that the price of this drug is likely to remain stable.
  • Generic Price Erosion: If the drug is generic, it may experience a slight price decrease due to mid-single-digit percent annual price erosion.
  • Regulatory Risks: The drug's price could be affected by regulatory actions such as price-fixing litigation and increased FDA inspections.
"Price-fixing litigation and a potential increase in Food and Drug Administration (FDA) inspections of foreign manufacturing facilities are potential risks for the generic drug industry in 2024."[3]

Key Takeaways

  • The pharmaceutical industry is expected to have a stable credit outlook in 2024.
  • Generic drugs may experience mid-single-digit percent annual price erosion.
  • Advanced treatments like gene therapies are driving up healthcare costs but do not directly impact the price of drugs with specific NDCs.
  • Regulatory risks such as price-fixing litigation and FDA inspections could affect drug prices.
  • The overall drug price inflation rate for 2025 is projected to be 0.00%.

FAQs

Q: What does the NDC 83324-0064 represent? A: The NDC 83324-0064 is a unique 10-digit code that identifies the labeler, product, and package size of a specific drug.

Q: What are the projected price trends for generic drugs in 2025? A: Generic drugs are expected to experience mid-single-digit percent annual price erosion, along with modest revenue growth.

Q: How might regulatory actions impact drug prices? A: Regulatory actions such as price-fixing litigation and increased FDA inspections of foreign manufacturing facilities could introduce uncertainties and potential price adjustments.

Q: What is the significance of the 0.00% overall drug price inflation rate for 2025? A: This rate indicates that there is no significant increase expected in drug prices across the board for the specified period.

Q: How do advanced treatments like gene therapies affect the pharmaceutical market? A: Advanced treatments are driving up healthcare costs and highlighting the need for sustainable financial models, but they do not directly impact the prices of specific generic or branded drugs.

Sources

  1. Drug Name and National Drug Code (NDC) Reference Data Instructions Calendar Year 2024 - CMS
  2. Pharmacy Market Outlook Summer 2024 - Vizient Inc.
  3. Pharmaceutical Industry 2024 Credit Outlook Is Stable As Revenue Growth Mitigates Pressures - S&P Global
  4. Methodology for Identifying Drugs for Affordability Review - Washington State Health Care Authority
  5. National Drug Code Database Background Information - FDA

More… ↓

⤷  Subscribe

Make Better Decisions: Try a trial or see plans & pricing

Drugs may be covered by multiple patents or regulatory protections. All trademarks and applicant names are the property of their respective owners or licensors. Although great care is taken in the proper and correct provision of this service, thinkBiotech LLC does not accept any responsibility for possible consequences of errors or omissions in the provided data. The data presented herein is for information purposes only. There is no warranty that the data contained herein is error free. thinkBiotech performs no independent verification of facts as provided by public sources nor are attempts made to provide legal or investing advice. Any reliance on data provided herein is done solely at the discretion of the user. Users of this service are advised to seek professional advice and independent confirmation before considering acting on any of the provided information. thinkBiotech LLC reserves the right to amend, extend or withdraw any part or all of the offered service without notice.