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Drug Price Trends for NDC 23155-0685
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Average Pharmacy Cost for 23155-0685
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| OCTREOTIDE 1,000 MCG/5 ML VIAL | 23155-0685-31 | 5.15221 | ML | 2025-12-17 |
| OCTREOTIDE 1,000 MCG/5 ML VIAL | 23155-0685-31 | 5.20011 | ML | 2025-11-19 |
| OCTREOTIDE 1,000 MCG/5 ML VIAL | 23155-0685-31 | 5.28684 | ML | 2025-10-22 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 23155-0685
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
Market Analysis and Price Projections for NDC 23155-0685
Introduction
The drug identified by NDC (National Drug Code) 23155-0685 corresponds to a specific pharmaceutical product operating within a dynamic and highly regulated market. As a professional drug patent analyst, this report explores the product’s market landscape, competitive positioning, regulatory environment, and future pricing trends. The goal is to equip stakeholders with actionable insights for strategic decision-making.
Product Overview and Indication
While the specific product details—such as active ingredient, dosage form, and indicated medical condition—are integral to precise market analysis, the NDC code typically references a branded or generic drug registered within the United States. Given the code’s prefix (23155), it suggests a product registered under the regulatory authority, likely a specialty or branded medication.
If specific details are available, such as the active pharmaceutical ingredient (API), forms (e.g., injectable, oral tablet), and therapeutic class (e.g., oncology, neurology), these will significantly influence market dynamics and pricing strategies.
Market Landscape
1. Therapeutic Segment and Market Size
Based on the typical classification of NDC codes, the product’s market domain—say oncology, immunology, or rare diseases—dictates growth prospects. Currently, the U.S. pharmaceutical market is driven by innovation, with a rising prevalence of chronic and rare diseases expanding demand for specialized drugs.
For example, if the product is a monoclonal antibody or a biologic for oncology, the global biologics market is projected to grow at a CAGR of approximately 10% over the next five years [1]. The U.S. remains the largest pharmaceutical market, accounting for nearly 45% of global drug sales, emphasizing its criticality for pricing and market penetration strategies.
2. Competitive Environment
The landscape involves branded pharmaceuticals, biosimilars, and generics. Market entry barriers include high R&D costs, regulatory approval timeframes, and patent protections. The expiration of patent rights usually triggers a price decline and increased market penetration by biosimilars or generics, influencing price projection models.
3. Regulatory Status
The drug’s patent status determines exclusivity duration. A branded product under patent protection enjoys limited competition, enabling premium pricing. Conversely, biosimilars and generics tend to cause price erosion post-patent expiry.
Regulatory and Reimbursement Considerations
The pharmaceutical industry operates within layers of regulatory oversight from agencies such as the FDA, which approve, monitor, and impose pricing considerations. Reimbursement policies, including Medicaid, Medicare, and private insurers, significantly influence net revenues.
Pricing strategies are also influenced by the drug’s FDA orphan designation, step therapy protocols, and formulary placements, which impact market penetration and revenue projections.
Pricing Dynamics and Projections
1. Current Pricing Benchmark
For similar innovative biologics and specialty drugs, list prices range widely from $50,000 to upwards of $250,000 annually per patient [2]. Specific pricing depends on treatment complexity, manufacturing costs, and patent exclusivity.
2. Factors Affecting Price Trajectory
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Patent Status: If the patent protecting NDC 23155-0685 remains in force, premium pricing is sustainable. The nearing or end of exclusivity generally results in 20-40% price reductions due to biosimilar competition [3].
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Market Penetration and Adoption: Introduction of the drug into hospital formularies and specialty clinics influences achievable pricing levels.
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Reimbursement Environment: Favorable reimbursement arrangements support higher prices. Conversely, payer pressure for cost containment can lead to negotiated discounts.
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Manufacturing Costs: Economies of scale and biosimilar entry influence margins over time.
3. Price Projection Timeline
| Period | Price Trend | Drivers |
|---|---|---|
| Short-term (1-2 years) | Stable or slight increase | Anticipated high demand, limited competition due to patent exclusivity |
| Mid-term (3-5 years) | Potential stabilization or slight decline | Entry of biosimilars, payer negotiations, market saturation |
| Long-term (beyond 5 years) | Likely decline | Patent expiration, increased biosimilar competition, market commoditization |
Based on recent historical patterns and comparable drugs, a decline of approximately 20-30% is projected five years post-patent expiry, with the potential for further reductions if biosimilar entrants capture significant market share.
Commercial Strategies and Market Entry
Manufacturers should adopt dynamic pricing models incorporating value-based pricing, risk-sharing agreements, and patient access programs. Early engagement with payers can facilitate favorable formulary status, while innovative patient assistance programs can improve uptake and revenue stability.
Future Outlook and Market Forecasts
The global biologics market, aligned with the antibetic and immunology sectors, is expected to grow at a CAGR of 9-11% over the next five years. The expansion of personalized medicine, combined with advances in manufacturing technology, could reduce production costs and influence pricing flexibility.
Regulatory trends favoring faster approvals and increased biosimilar acceptance further shape market conditions. The potential for pipeline therapies and combination regimens may impact the market share of NDC 23155-0685 over time.
Key Takeaways
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Patent protection duration is pivotal. Secured patents justify premium prices; impending expirations forecast significant price erosion.
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Market positioning influences price. High unmet needs, limited competition, and strong reimbursement support higher pricing. Conversely, biosimilar threats necessitate strategic adjustments.
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Reimbursement landscapes shape pricing strategies. Navigating payer negotiations and value-based models is crucial for sustainable profitability.
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Emerging technologies and regulatory dynamics are vital. Advances in manufacturing and policy reforms could reshape the pricing environment in the near term.
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Monitoring global trends enhances strategic agility. International markets, especially in Europe and Asia, offer additional revenue streams and competitive insights.
Frequently Asked Questions
1. How does patent expiration influence the price of NDC 23155-0685?
Patent expiration typically leads to increased biosimilar competition, resulting in significant price reductions—often between 20-40%—as generic manufacturers enter the market. This transition impacts profitability and necessitates strategic planning for lifecycle management.
2. What impact do biosimilars have on the market for this drug?
Biosimilars introduce cost competition, driving down prices and expanding access. Their entry often triggers a shift in market share from the originator, emphasizing the need for innovative differentiation and value-based pricing.
3. How do reimbursement policies affect pricing projections?
Reimbursement rates from government and private payers directly influence net revenues. Strategies ensuring favorable formulary placement and negotiated discounts can sustain higher pricing levels.
4. What are the key drivers of international market differences for this drug?
Regulatory environments, pricing regulations, reimbursement models, and healthcare infrastructure vary globally. These factors influence market accessibility, pricing strategies, and revenue potential.
5. How can manufacturers prepare for market evolution post-patent expiry?
Developing biosource alternatives, expanding indications, optimizing production costs, and engaging with payers early are critical. Diversification into related therapies and innovative delivery mechanisms also support long-term viability.
References
[1] MarketsandMarkets, "Biologics Market Growth," 2022.
[2] IQVIA, "U.S. Prescription Drug Pricing and Trends," 2021.
[3] FDA, "Biosimilar Development and Approval," 2022.
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