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Drug Price Trends for FLUVASTATIN ER
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Average Pharmacy Cost for FLUVASTATIN ER
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| FLUVASTATIN ER 80 MG TABLET | 00781-8017-31 | 2.62418 | EACH | 2025-05-21 |
| FLUVASTATIN ER 80 MG TABLET | 00093-7446-01 | 2.62418 | EACH | 2025-05-21 |
| FLUVASTATIN ER 80 MG TABLET | 00093-7446-56 | 2.62418 | EACH | 2025-05-21 |
| FLUVASTATIN ER 80 MG TABLET | 00527-2580-37 | 2.62418 | EACH | 2025-05-21 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Fluvastatin Extended Release (ER)
Introduction
Fluvastatin, a member of the statin drug class, is widely used to treat dyslipidemia and high cholesterol. The extended-release (ER) formulation of fluvastatin is designed to provide a more convenient dosing regimen compared to immediate-release formulations. Here, we will delve into the market analysis and price projections for fluvastatin ER, highlighting key aspects such as current market size, pricing, and potential savings through formulation switches.
Current Market Size and Spending
The global fluvastatin sodium drug market, which includes both immediate-release and extended-release formulations, was valued at USD 0.131 billion in 2023 and is projected to reach USD 0.22 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.9%[3].
In the context of Medicare and Medicaid spending, a significant portion is allocated to extended-release drug formulations. For instance, in 2017, Medicare Part D and Medicaid combined spent $3.1 billion on 20 extended-release drugs, including cardiovascular medications like fluvastatin ER[1].
Pricing of Fluvastatin ER
The cost of fluvastatin ER can vary depending on the pharmacy and the specific formulation. For example, the cost for fluvastatin 80 mg oral tablet, extended release, is around $94 for a supply of 30 tablets. This price is for cash-paying customers and does not account for insurance plans or discount cards[2].
Potential Savings Through Formulation Switches
A critical aspect of the market analysis is the potential savings associated with switching from extended-release to immediate-release formulations. A study on Medicare Part D and Medicaid spending found that switching all extended-release formulations to immediate-release formulations could result in significant cost savings. In 2017, this switch was estimated to reduce spending by $2.6 billion ($1.8 billion for Medicare and $836 million for Medicaid)[1].
For fluvastatin specifically, the extended-release formulation is more expensive than its immediate-release counterpart. For instance, the daily price of generic extended-release formulations is significantly higher than that of generic immediate-release formulations. This price difference underscores the potential for substantial savings if patients were to switch to immediate-release formulations[1].
Bioavailability and Pharmacokinetics
The bioavailability of fluvastatin ER is an important factor in its pricing and market positioning. The mean relative bioavailability of the extended-release tablet is 29% compared to an immediate-release capsule administered under fasting conditions. This bioavailability can be affected by factors such as meal intake, with high-fat meals delaying absorption and increasing bioavailability by approximately 50%[4].
Market Drivers and Trends
The fluvastatin sodium drug market is driven by several key factors, including the rising prevalence of hypercholesterolemia and cardiovascular diseases, increasing healthcare awareness, and advancements in drug delivery technologies. These drivers are expected to continue influencing the market size and growth of fluvastatin ER[3].
Competitive Landscape
The statin market, which includes fluvastatin, is highly competitive with various brand-name and generic options available. The introduction of generic versions of brand-name statins, such as ezetimibe, has significantly reduced spending on these medications. For example, following the release of generic ezetimibe in 2016, prescriptions for brand-name ezetimibe declined by 96%, leading to a 62% decrease in total spending on ezetimibe[5].
Price Projections
Given the current market trends and the potential for cost savings through formulation switches, here are some price projections for fluvastatin ER:
- Short-term Projections: The cost of fluvastatin ER is likely to remain relatively stable in the short term, influenced by current market dynamics and the availability of generic formulations.
- Long-term Projections: As the market continues to grow at a CAGR of 5.9%, the price of fluvastatin ER may see moderate increases. However, any significant shifts towards immediate-release formulations could lead to downward price pressure.
Conclusion
The market for fluvastatin ER is characterized by high spending on extended-release formulations, significant potential savings through formulation switches, and ongoing market growth driven by health trends and technological advancements.
Key Takeaways
- The global fluvastatin sodium drug market is projected to grow at a CAGR of 5.9% until 2032.
- Medicare and Medicaid could save billions by switching from extended-release to immediate-release formulations.
- The cost of fluvastatin ER is higher than its immediate-release counterpart.
- Bioavailability and pharmacokinetics play crucial roles in the pricing and market positioning of fluvastatin ER.
- Market drivers include the rising prevalence of cardiovascular diseases and advancements in drug delivery technologies.
FAQs
1. What is the current market size of the fluvastatin sodium drug market? The global fluvastatin sodium drug market was valued at USD 0.131 billion in 2023[3].
2. How much could Medicare and Medicaid save by switching to immediate-release formulations? Switching to immediate-release formulations could reduce spending by $2.6 billion in 2017 and $13.7 billion from 2012 to 2017[1].
3. What affects the bioavailability of fluvastatin ER? The bioavailability of fluvastatin ER can be affected by meal intake, with high-fat meals delaying absorption and increasing bioavailability by approximately 50%[4].
4. What are the key drivers of the fluvastatin sodium drug market? The key drivers include the rising prevalence of hypercholesterolemia and cardiovascular diseases, increasing healthcare awareness, and advancements in drug delivery technologies[3].
5. How does the introduction of generic statins impact the market? The introduction of generic statins significantly reduces spending on brand-name medications, as seen with the 96% decline in brand-name ezetimibe prescriptions following the release of its generic version[5].
Sources
- Sumarsono A, Sumarsono N, Das SR, Vaduganathan M, Agrawal D, Pandey A. Economic Burden Associated With Extended-Release vs Immediate-Release Drug Formulations Among Medicare Part D and Medicaid Beneficiaries. JAMA Netw Open. 2020;3(2):e200181. doi:10.1001/jamanetworkopen.2020.0181
- Drugs.com. Fluvastatin Prices, Coupons, Copay Cards & Patient Assistance.
- Business Research Insights. Fluvastatin Sodium Drug Market Size 2032.
- DrugBank. Fluvastatin: Uses, Interactions, Mechanism of Action.
- JAMA Cardiology. Trends in Utilization and Cost of Low-Density Lipoprotein–Lowering Therapies Among Medicare Beneficiaries, 2014-2018.
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