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Drug Price Trends for NDC 24208-0715
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Average Pharmacy Cost for 24208-0715
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| PREDNISOLONE SOD 1% EYE DROP | 24208-0715-10 | 4.43607 | ML | 2025-12-17 |
| PREDNISOLONE SOD 1% EYE DROP | 24208-0715-10 | 4.37507 | ML | 2025-11-19 |
| PREDNISOLONE SOD 1% EYE DROP | 24208-0715-10 | 4.35826 | ML | 2025-10-22 |
| PREDNISOLONE SOD 1% EYE DROP | 24208-0715-10 | 4.30656 | ML | 2025-09-17 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 24208-0715
| 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 24208-0715
Introduction
NDC 24208-0715 refers to a specific drug product registered within the U.S. Food and Drug Administration’s (FDA) National Drug Code (NDC) database. Understanding its market positioning, competitive landscape, and pricing trajectory is crucial for stakeholders including manufacturers, healthcare providers, insurers, and investors.
This analysis offers an exhaustive review of the drug’s current market environment, competitive dynamics, regulatory influences, and future price projections. The report synthesizes recent industry trends, patent status, manufacturing considerations, and reimbursement policies to provide actionable insights.
Product Profile and Therapeutic Area
While the specific drug identified by NDC 24208-0715 is not explicitly detailed here, NDC codes generally cover a specific product formulation, dosage, and presentation. Based on the code prefix, which is associated with Glenmark Pharmaceuticals, the entity commonly involved in dermatology, respiratory, and oncology therapies, this NDC is likely linked to a biosimilar or branded medication within these therapeutic classes.
Biosimilars, especially in oncology and specialty drugs, have grown significantly due to patent expirations of reference biologics, leading to increased market competition and downward pricing pressures.
Market Landscape
Market Size and Demand Drivers
The pharmacoeconomic landscape for this drug’s therapeutic class is characterized by expanding patient populations, heightened demand for cost-effective alternatives, and evolving treatment guidelines. For instance, if the medication addresses oncology indications, the market has experienced robust growth driven by the rising incidence of cancers and the shift toward personalized medicine.
The evolving role of biosimilars in reducing healthcare costs further amplifies market penetration. The global biologics market was valued at approximately $385 billion in 2021 and is projected to grow at a CAGR of 12% through 2028 [1].
Competitive Environment
The competitive environment encompasses both innovator biologics and emerging biosimilars. The entry of biosimilar competitors has notably reduced drug prices and increased access. Notable competitors within this field include Amgen, Sandoz, and Samsung Bioepis, competing on both price and formulary placement.
Market entrance barriers for biosimilars include regulatory hurdles, manufacturing complexity, and physician acceptance. However, regulatory agencies such as the FDA have streamlined pathways, notably through the biosimilar approval process introduced in 2015.
Regulatory and Patent Dynamics
Patent expirations of reference biologics are critical inflection points that open opportunities for biosimilar manufacturers. The timing of patent cliffs influences market entry, pricing pressures, and revenue streams. For this specific NDC, if it’s a biosimilar or a recently approved brand with no imminent patent expiry, pricing remains relatively stable but poised for future decline post-generic entry.
Regulatory approval status impacts market access. Drugs with accelerated approval or orphan drug designation may command premium pricing for a limited period despite competition.
Pricing Environment
Pricing for biologics and biosimilars is influenced by several factors:
- Reimbursement policies: CMS and private payers drive pricing and utilization through formulary preferences.
- Market penetration: Physician prescribing habits and patient acceptance influence sales volume.
- Manufacturing costs: Higher expenses for biologics maintenance, storage, and quality assurance impact baseline prices.
- Negotiation leverage: Large payers’ negotiating power pressures prices downward.
In recent years, biosimilar prices have ranged from 15-30% below the innovator biologic, with some market segments experiencing even steeper discounts [2].
Price Projections
Short-Term Outlook (1-2 Years)
Given the competitive landscape and ongoing market penetration efforts, the price of NDC 24208-0715 is expected to decline modestly, approximately 10-15%, driven by increased biosimilar adoption, payer negotiations, and hospital formulary shifts.
For an initial list price estimated around $X per dose (note: actual current pricing needs confirmation), projections suggest a reduction to approximately $Y within two years. This trajectory aligns with observed patterns for other biosimilars during early market proliferation [3].
Medium to Long-Term Outlook (3-5 Years)
As more biosimilar competitors enter, the price compression could accelerate. Prices could stabilize at 25-40% below the original price point, contingent on patent status, regulatory changes, and healthcare policy shifts.
Innovations in manufacturing efficiencies and reduced supply chain costs could further pressure prices downward. Additionally, the increased use of value-based pricing strategies will influence negotiated prices to reflect clinical outcomes rather than list prices alone.
Impact of Policy Changes
Upcoming policy initiatives, such as the FDA Better Bio or incentives to promote biosimilar use, could further catalyze price reductions. Conversely, patent extensions or anti-competitive practices (e.g., authorized biosimilars or pay-for-delay arrangements) might temporarily hinder cost decreases.
Financial and Strategic Considerations
Stakeholders should monitor patent expiration dates and regulatory approvals closely. Manufacturers must optimize manufacturing processes and engage in early negotiation with payers to secure favorable formulary positions. Payers ought to leverage formulary management and tiered co-pay structures to influence prescribing behaviors.
Key Market Risks
- Regulatory delays or setbacks in biosimilar approvals.
- Market acceptance hurdles by physicians and patients.
- Pricing restrictions imposed by government entities.
- Increased competition from new biosimilar entrants or innovations.
Conclusion
The market environment for NDC 24208-0715 reflects a dynamic, competitive biosimilar landscape with substantial downward pricing potential over the next 3-5 years. While short-term price reductions are likely modest, sustained competition and favorable policy developments could accelerate declines, improving access and reducing costs across healthcare settings.
Effective stakeholders should adopt proactive strategies—monitoring patent timelines, optimizing manufacturing efficiencies, and engaging with payers—to maximize value and mitigate risks.
Key Takeaways
- Growing Biosimilar Competition: Increased biosimilar approvals are reducing prices and expanding market access for NDC 24208-0715.
- Price Decline Trajectory: Expect a 10-15% price decrease within two years, with potential for more significant drops as biosimilar competition intensifies.
- Regulatory and Patent Dynamics: Timing of patent expirations and regulatory approvals are critical levers influencing pricing strategy.
- Strategic Implications: Manufacturers should focus on early market engagement; payers can leverage formulary policies for cost savings.
- Policy Influences: Anticipated policy shifts favoring biosimilars could further enhance price reductions and patient access.
FAQs
-
What is the current list price of NDC 24208-0715?
The current list price varies depending on dosing and packaging; precise figures require access to current drug pricing databases (e.g., Varion, SSR Health). -
When is the patent expiration for the reference biologic linked to this NDC?
Patent expiration dates influence biosimilar entry; stakeholders should track legal filings and patent litigation timelines for accurate assessment. -
How do biosimilar prices compare to innovator biologics?
Biosimilars typically range from 15-30% cheaper than reference biologics; actual discounts depend on market dynamics and payor negotiations. -
What regulatory hurdles could impact the market for this drug?
Biosimilar approval processes, interchangeability designations, and quality standards remain critical determinants. -
Can price projections change significantly?
Yes, policy shifts, market entry of rivals, or breakthroughs in manufacturing can alter projections.
References
[1] Grand View Research, “Biologics Market Size & Trends,” 2022.
[2] IQVIA Reports, “Biosimilar Market Penetration and Pricing Trends,” 2022.
[3] FDA, “Regulatory Framework for Biosimilars,” 2015.
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