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Drug Price Trends for PROMETHAZINE-DM
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Average Pharmacy Cost for PROMETHAZINE-DM
Drug Name | NDC | Price/Unit ($) | Unit | Date |
---|---|---|---|---|
PROMETHAZINE-DM 6.25-15 MG/5 ML | 70436-0155-42 | 0.03440 | ML | 2025-01-22 |
PROMETHAZINE-DM 6.25-15 MG/5 ML | 27808-0057-01 | 0.03440 | ML | 2025-01-22 |
PROMETHAZINE-DM 6.25-15 MG/5 ML | 60432-0604-16 | 0.03440 | ML | 2025-01-22 |
PROMETHAZINE-DM 6.25-15 MG/5 ML | 64679-0604-16 | 0.03440 | ML | 2025-01-22 |
>Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Promethazine-DM
Introduction
Promethazine-DM, a combination of promethazine hydrochloride and dextromethorphan hydrobromide, is a widely used medication for treating coughs and colds. Here, we will delve into the market analysis and price projections for this drug, highlighting key factors that influence its market performance.
Market Size and Revenue Potential
The U.S. market for promethazine-DM is substantial, with annual sales estimated at approximately $42.6 million, according to IQVIA data from July 2024[1].
Product Launch and Strategic Timing
ANI Pharmaceuticals' recent launch of Promethazine Hydrochloride and Dextromethorphan Hydrobromide Oral Solution is strategically timed to coincide with the upcoming cough and cold season. This timing is expected to enhance market penetration and drive sales in the short term[1].
Pricing and Cost Analysis
Without insurance, a 118 mL bottle of promethazine-DM syrup, which typically lasts for 7 days, costs around $32. This translates to a daily cost of $3 to $4 per dose, depending on the prescribed dosage[2].
Discounts and Savings Options
For those without insurance, several savings options are available. Using a SingleCare prescription discount card, for example, can reduce the cost of promethazine-DM to as low as $2 per 118 mL bottle[2].
Market Estimation Techniques
To estimate the market size and revenue potential of promethazine-DM, several techniques can be employed:
Bottom-Up Approach
This involves estimating the potential market size by analyzing factors such as the total population, incidence and prevalence of the target condition (cough and cold), percentage of diagnosed patients, treatment rates, and pricing studies. This approach also includes penetration, competitive analysis, compliance analysis, reimbursement analysis, and utilization patterns analysis[3].
Analyst Insights and Research Reports
External reports and analyst insights can provide valuable data on market trends, competitor performance, and potential market share. These reports can help cross-check and refine the bottom-up market estimation results[3].
Analogue Markets
Analyzing the market performance of similar products can offer insights into the potential market size and revenue of promethazine-DM. This includes comparing efficacy, safety, convenience, and physician acceptance of similar treatments[3].
Segmentation Analysis
Market segmentation is crucial for refining penetration and share forecasts. Identifying different segments, such as severely, moderately, and mildly affected patients, helps in focusing efforts on early adopters and tailoring marketing strategies accordingly[3].
Growth Drivers and Change Over Time
Understanding the factors that influence customer base and segmentation over time is essential. This includes analyzing growth drivers, historical penetration of comparable products, and the impact of reimbursement policies on market share[3].
Competitive Landscape
The generics market is highly competitive, and promethazine-DM faces competition from other cough and cold medications. Key competitors include Mucinex DM, Delsym, and Robitussin DM. The pricing and market share of these competitors can significantly impact the market performance of promethazine-DM[2].
Physician Acceptance and Prescribing Behavior
Physician interviews and preference share analysis are vital in gauging acceptance and potential use of promethazine-DM versus competing treatments. This helps in understanding the prescribing behavior and how it might be influenced by detailing and sampling efforts[3].
Reimbursement and Compliance Analysis
Reimbursement policies and compliance analysis are critical in estimating the actual market penetration. Understanding how key payer groups reimburse for promethazine-DM and analyzing compliance patterns can provide insights into the drug's market potential[3].
Price Projections
Given the strategic launch timing and the existing market demand, the price of promethazine-DM is expected to remain competitive. Here are some key price projections:
- Retail Price: Without insurance, the retail price for a 118 mL bottle is around $32[2].
- Discounted Price: With a SingleCare prescription discount card, the price can be reduced to $2[2].
- Annual Sales: The annual sales potential for promethazine-DM in the U.S. market is estimated at $42.6 million[1].
Key Takeaways
- Market Size: The U.S. market for promethazine-DM has an annual sales potential of $42.6 million.
- Pricing: The retail price for a 118 mL bottle is around $32, but can be significantly reduced with discount cards.
- Competitive Landscape: The drug faces competition from other cough and cold medications.
- Segmentation: Identifying different patient segments is crucial for refining marketing strategies.
- Growth Drivers: Understanding growth drivers and reimbursement policies is essential for market penetration.
FAQs
-
How much does promethazine-DM cost without insurance? Without insurance, a 118 mL bottle of promethazine-DM syrup typically costs around $32[2].
-
What are the savings options for promethazine-DM? Using a SingleCare prescription discount card can reduce the cost to as low as $2 per 118 mL bottle[2].
-
Why is the timing of the promethazine-DM launch strategic? The launch coincides with the upcoming cough and cold season, which is expected to enhance market penetration and drive sales[1].
-
How does market segmentation help in promoting promethazine-DM? Market segmentation helps in identifying early adopters and tailoring marketing strategies to different patient segments, such as severely, moderately, and mildly affected patients[3].
-
What are the key factors influencing the market performance of promethazine-DM? Key factors include market size estimation, competitive analysis, physician acceptance, reimbursement policies, and compliance analysis[3].
Cited Sources
- ANI Pharmaceuticals Launches Promethazine Hydrochloride and Dextromethorphan Hydrobromide Oral Solution - Stock Titan
- How much is promethazine DM without insurance? - SingleCare
- Revenue Forecasting Techniques for New Pharmaceutical Drugs - iHealthcareAnalyst
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