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Last Updated: December 22, 2024

TRAVERT 10% IN PLASTIC CONTAINER Drug Patent Profile


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Which patents cover Travert 10% In Plastic Container, and when can generic versions of Travert 10% In Plastic Container launch?

Travert 10% In Plastic Container is a drug marketed by Baxter Hlthcare and is included in one NDA.

The generic ingredient in TRAVERT 10% IN PLASTIC CONTAINER is invert sugar. Additional details are available on the invert sugar profile page.

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Summary for TRAVERT 10% IN PLASTIC CONTAINER
US Patents:0
Applicants:1
NDAs:1
DailyMed Link:TRAVERT 10% IN PLASTIC CONTAINER at DailyMed
Drug patent expirations by year for TRAVERT 10% IN PLASTIC CONTAINER

US Patents and Regulatory Information for TRAVERT 10% IN PLASTIC CONTAINER

Applicant Tradename Generic Name Dosage NDA Approval Date TE Type RLD RS Patent No. Patent Expiration Product Substance Delist Req. Exclusivity Expiration
Baxter Hlthcare TRAVERT 10% IN PLASTIC CONTAINER invert sugar INJECTABLE;INJECTION 016717-001 Approved Prior to Jan 1, 1982 DISCN No No ⤷  Subscribe ⤷  Subscribe ⤷  Subscribe
>Applicant >Tradename >Generic Name >Dosage >NDA >Approval Date >TE >Type >RLD >RS >Patent No. >Patent Expiration >Product >Substance >Delist Req. >Exclusivity Expiration

TRAVERT 10% IN PLASTIC CONTAINER Market Analysis and Financial Projection Experimental

Market Dynamics and Financial Trajectory of the U.S. Pharmaceutical Market: Implications for Drugs Like FILSPARI

Overview of the U.S. Pharmaceutical Market

The U.S. pharmaceutical market is a robust and dynamic sector, projected to reach USD 1,093.79 billion by 2033, up from USD 602.19 billion in 2023[1].

Market Segmentation

Molecule Type

The market is dominated by conventional drugs (small molecules), which held a 56.21% revenue share in 2023. However, the biologics and biosimilars segment is expected to grow at the fastest CAGR from 2024 to 2033[1].

Branded vs. Generic Drugs

Branded drugs held a significant 68.19% revenue share in 2023, indicating a strong market presence for patented medications[1].

Prescription vs. Over-the-Counter (OTC) Drugs

The prescription segment dominated with an 88.23% revenue share in 2023. However, the OTC segment is poised for the fastest growth, driven by cost-conscious consumers and increasing FDA approvals for OTC drugs[1].

Disease-Specific Markets

Cancer Segment

The cancer segment led the market with a 16.79% share in 2023. This segment continues to be a significant focus area for pharmaceutical companies due to the high demand for cancer treatments[1].

Neurological Disorders Segment

Neurological disorders are expected to witness the fastest CAGR from 2024 to 2033, indicating growing demand for treatments in this area[1].

Route of Administration

Oral Route

The oral route of administration dominated the market with a 59.9% revenue share in 2023. However, the parenteral route is expected to expand at the fastest CAGR over the forecast period[1].

Formulations

Tablets held the largest market share in 2023, but the sprays segment is expected to grow at the fastest CAGR over the forecast period[1].

Demographic Segmentation

Adult Segment

The adult segment held the largest share of 60.00% in 2023 and is expected to advance at the fastest growth rate over the forecast period. The children and adolescent segment is also expected to witness steady growth[1].

End Market Segmentation

Hospitals and Clinics

Hospitals dominated the pharmaceuticals market with a 51.66% revenue share in 2023. However, clinics are estimated to expand at the fastest CAGR from 2024 to 2033[1].

Financial Performance of Travere Therapeutics and FILSPARI

Travere Therapeutics Financial Results

Travere Therapeutics reported total revenue of $62.9 million for the third quarter of 2024, with net product sales of $61.0 million. This includes significant contributions from FILSPARI (sparsentan), which received full FDA approval as the only non-immunosuppressive treatment for IgA Nephropathy (IgAN)[2][5].

Net Product Sales

FILSPARI generated $35.6 million in net product sales for the third quarter of 2024, marking a substantial increase from $8.0 million in the same period of 2023[2][5].

Operating Expenses

Research and development expenses were $51.7 million, while selling, general, and administrative expenses were $65.6 million for the third quarter of 2024. These expenses reflect the company's ongoing investment in product development and marketing[2][5].

Market Impact of FILSPARI

FILSPARI's approval and commercial success are significant milestones in the treatment of IgAN and potentially other conditions like Focal Segmental Glomerulosclerosis (FSGS). The drug's unique mechanism of action and its status as a non-immunosuppressive treatment position it for strong market performance.

Competitive Landscape

In a market where biologics and biosimilars are growing rapidly, FILSPARI's approval highlights the potential for innovative treatments to capture significant market share. The drug's performance is indicative of the broader trend towards specialized and targeted therapies[1].

Patient and Economic Impact

FILSPARI's ability to slow kidney function decline in IgAN patients has substantial economic and health implications. It reduces the need for more intensive and costly treatments down the line, aligning with broader trends in healthcare towards cost-effective and patient-centered care[2].

Trends in Prescription Drug Spending

Specialty Drugs

Specialty drug spending has increased significantly, with a 43% growth between 2016 and 2021, reaching $301 billion in 2021. Despite a small increase in the number of specialty prescriptions, the spending on these drugs has risen substantially due to their high costs[4].

Retail vs. Non-Retail Settings

There has been a slight increase in the share of both retail and non-retail spending on specialty drugs. However, the number of prescriptions for specialty drugs has remained relatively stable, with a slight drop in retail prescriptions but an increase in non-retail settings[4].

Key Takeaways

  • The U.S. pharmaceutical market is projected to grow significantly, driven by segments like biologics, neurological disorders, and oral routes of administration.
  • FILSPARI's success underscores the market potential for innovative, non-immunosuppressive treatments.
  • Specialty drug spending continues to rise, driven by high costs despite relatively stable prescription numbers.
  • The shift towards OTC drugs and cost-effective treatments is expected to influence market dynamics.

Frequently Asked Questions

1. What is the projected size of the U.S. pharmaceutical market by 2033?

The U.S. pharmaceutical market is projected to reach USD 1,093.79 billion by 2033[1].

2. Which segment dominated the pharmaceutical market in terms of molecule type in 2023?

Conventional drugs (small molecules) dominated the market with a 56.21% revenue share in 2023[1].

3. What is the significance of FILSPARI in the pharmaceutical market?

FILSPARI is the only non-immunosuppressive treatment approved for IgA Nephropathy (IgAN), offering a unique and effective treatment option and contributing significantly to Travere Therapeutics' revenue[2][5].

4. How has specialty drug spending changed between 2016 and 2021?

Specialty drug spending increased by 43% between 2016 and 2021, reaching $301 billion in 2021, despite a minimal increase in the number of specialty prescriptions[4].

5. What is the trend in prescription vs. OTC drug spending?

The prescription segment dominates, but the OTC segment is expected to grow faster due to cost-conscious consumers and increasing FDA approvals for OTC drugs[1].

Sources:

  1. Biospace: U.S. Pharmaceutical Market Size to Reach USD 1,093.79 Billion By 2033[1].
  2. GlobeNewswire: Travere Therapeutics Reports Third Quarter 2024 Financial Results[2].
  3. AMCP Annual: SUPPLEMENT - AMCP Annual[3].
  4. ASPE: Trends in Prescription Drug Spending, 2016-2021[4].
  5. Travere Therapeutics: Travere Therapeutics Reports Third Quarter 2024 Financial Results[5].

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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.