Last updated: March 9, 2026
What Is NDC 00480-8704?
NDC 00480-8704 identifies a specific formulation of a drug product listed in the National Drug Code Directory. Based on available public data, this code corresponds to Eli Lilly's Basaglar KwikPen (insulin glargine), a long-acting insulin used to manage diabetes mellitus.
Market Overview and Competitive Landscape
Market Size and Demand Drivers
- The insulin market has experienced consistent growth, driven by increasing prevalence of diabetes globally.
- The global diabetes market was valued at approximately USD 76 billion in 2022, with insulin products accounting for over 70% of revenue.[1]
- The U.S. insulin market alone is projected to reach USD 34 billion by 2025, growing at a compounded annual growth rate (CAGR) of 4%-6%.[2]
Competition
- Major competitors include Novo Nordisk's Tresiba (insulin degludec), Sanofi's Lantus (insulin glargine), and newly emerging biosimilars.
- Biosimilars, such as Micsun (by Biocon) and others, are entering the market, increasing pricing pressure.
- Basaglar, as a biosimilar to Lantus, benefits from lower manufacturing costs and price flexibility.
Market Penetration
- Basaglar has achieved significant market share through its similarity to Lantus and lower price point.
- It maintains approximately 10-15% share of the long-acting insulin segment in the U.S., with steady growth expected.
Pricing Details
Current Wholesale Acquisition Cost (WAC)
- Basaglar's WAC in 2023 is approximately USD 245 per 10 mL pen.[3]
- This compares to Lantus's WAC, valued around USD 275–310 per 10 mL pen.[4]
- Biosimilar pricing campaigns have pushed prices downward in recent years.
Reimbursement and Patient Cost
- Average out-of-pocket costs for patients with commercial insurance hover around USD 50–80 per 30-day supply.
- Medicare Part D plans often negotiate lower net prices, but coverage policies vary.
Price Projections
Short-Term (Next 1–2 Years)
- Minor price reductions expected due to biosimilar market competition.
- Wholesale prices projected to stabilize between USD 220–250 per pen.
- Insurance negotiations and rebates could further reduce net prices for payers.
Medium-to-Long-Term (3–5 Years)
- Possible price declines of 10–15%, influenced by:
- Increased biosimilar adoption.
- Policy pressures on drug prices.
- Payer formulary shifts favoring lower-cost alternatives.
- Innovation in long-acting insulin formulations or alternative delivery systems could impact pricing dynamics.
Potential Factors Impacting Pricing
- Regulatory approvals of biosimilar insulins.
- Policy reforms targeting insulin affordability.
- Manufacturer price adjustments in response to market competition.
Regulatory and Policy Environment Impact
- The U.S. Inflation Reduction Act of 2022 has provisions aimed at capping out-of-pocket insulin costs at USD 35 for Medicare beneficiaries.
- Initiatives from the FDA and state-level legislation seek to promote biosimilar substitution.
- Pricing transparency efforts may lead to further rebates and discounts.
Key Takeaways
- NDC 00480-8704 (Basaglar KwikPen) operates within a dynamic market characterized by growth, competition from biosimilars, and regulatory pressures.
- Current wholesale prices hover around USD 245 per pen, with patient out-of-pocket costs often lower due to insurance.
- Short-term price reductions are expected, with more significant declines possible over 3–5 years owing to biosimilar market penetration and policy influences.
- The market's growth is driven by rising diabetes prevalence and ongoing shifts toward cost-effective biosimilar options.
FAQs
Q1: What is the primary competitor to NDC 00480-8704?
A1: Sanofi's Lantus and Novo Nordisk's Tresiba are primary competitors, along with emerging biosimilars.
Q2: How does biosimilar competition affect prices?
A2: Biosimilars introduce price competition, leading to lower wholesale and patient costs.
Q3: Are further price reductions expected?
A3: Yes, as biosimilar adoption increases and policy pressures intensify.
Q4: How does insurance coverage influence patient costs?
A4: Insurance negotiations and rebates lower out-of-pocket expenses, typically making insulin more affordable for insured patients.
Q5: What regulation could impact future insulin pricing?
A5: The Inflation Reduction Act and FDA policies promoting biosimilar use could pressure manufacturers to reduce prices.
References
[1] Grand View Research. (2022). Diabetes Market Size & Share Report, 2022–2030.
[2] Mordor Intelligence. (2022). Global Insulin Market - Growth, Trends, and Forecasts (2022–2027).
[3] GoodRx. (2023). Basaglar prices and insurance coverage.
[4] Medicare.gov. (2023). Lantus and insulin coverage and costs.
