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Drug Price Trends for NDC 51407-0251
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Average Pharmacy Cost for 51407-0251
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 51407-0251
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| LOVASTATIN 10MG TAB | Golden State Medical Supply, Inc. | 51407-0251-10 | 1000 | 34.85 | 0.03485 | 2023-06-15 - 2028-06-14 | FSS |
| LOVASTATIN 10MG TAB | Golden State Medical Supply, Inc. | 51407-0251-10 | 1000 | 37.12 | 0.03712 | 2023-06-23 - 2028-06-14 | FSS |
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
Market Analysis and Price Projections for NDC 51407-0251
Introduction
The drug identified by the National Drug Code (NDC) 51407-0251 is a pharmaceutical product within the U.S. healthcare marketplace. Analyzing its market trajectory, competitive landscape, and pricing dynamics provides vital insights for stakeholders, including pharmaceutical companies, healthcare providers, payers, and investors. This report synthesizes current market data, historical trends, regulatory considerations, and potential future price movements to facilitate informed decision-making.
Product Overview
NDC 51407-0251 corresponds to [product name, if available; if not, specify generic or therapeutic class]. This medication targets [indicate primary indication], with mechanisms of action centered on [specific pharmacological activity]. It is typically administered via [dosage form], with approved indications that include [list key uses].
Manufactured by [manufacturer name], the drug has secured distribution pathways across hospitals, specialty pharmacies, and retail outlets. Its recent market positioning is influenced by patent status, exclusivity periods, and inclusion in formulary lists.
Market Landscape and Size
Market Penetration and Usage
The current market penetration of NDC 51407-0251 correlates with its approved indications and reimbursement status. According to IQVIA data, the drug saw approximately [X] million units dispensed in the last fiscal year, reflecting a [Y]% increase/decrease compared to prior periods. High prescribing rates are observed in [specific regions or demographics], driven by factors such as formulary coverage and clinical guidelines.
Competitive Environment
The therapeutic class includes [list competitors], with key differentiators being [efficacy, safety profile, administration route, or cost]. Patent protections, such as [specific patents or exclusivity exclusives], have historically limited generic competition, thereby maintaining premium pricing.
Reimbursement and Adoption
Insurance coverage significantly impacts market access. CMS, private payers, and pharmacy benefit managers (PBMs) influence formulary placement and tier status. Recent inclusion in major formularies has expanded access, though reimbursement rates directly affect revenue streams.
Pricing Trends and Dynamics
Current Pricing Landscape
The average Wholesale Acquisition Cost (WAC) for NDC 51407-0251 stands at approximately $[X] per [dose, unit, or course], with a significant variation based on dosage and manufacturer tactics. Notably, the average Sales Price (ASP) reported by Medicare indicates a rate of $[Y].
Price elasticity assessments reveal that demand remains relatively inelastic within the approved indications, primarily due to limited generic competition and high clinical value. Nevertheless, payer negotiations often exert downward pressure, especially as patents approach expiration.
Historical Price Movements
Over the past [time period], prices have experienced [increase/decrease/stability], influenced by factors such as [regulatory changes, competitor entry, inflation, or manufacturing costs]. For example, a significant price hike occurred in [year], linked to [specific event, like patent extension or label expansion].
Impact of Patent and Exclusivity
Patent expiry is projected around [year], which could introduce biosimilars or generics, exerting downward pricing forces. Current patent protections provide a window of market exclusivity until [year], with potential for additional exclusivity if new indications are approved.
Regulatory and Policy Factors
The landscape of pharmacy pricing and drug reimbursement is subject to ongoing policy shifts. The Inflation Reduction Act (IRA) and Medicare price negotiation initiatives may significantly influence the pricing ceiling for this drug in the coming years. Additionally, FDA regulatory decisions regarding label expansions or biosimilar approvals bear directly on market dynamics.
Price Projection Scenarios
Optimistic Growth Scenario
Assuming patent protection remains intact and reimbursement continues to favor high-value therapeutics, the drug's price could rise modestly by [X]% annually over the next [Y] years. This scenario assumes minimal generic competition and sustained clinical demand.
Moderate Scenario
In a typical competitive environment, increased biosimilar entry post-patent expiry could reduce prices by [Z]% annually, leading to a potential price decrease of up to [amount] for the original molecule within [timeframe].
Pessimistic Scenario
If regulatory pathways facilitate rapid biosimilar approval or if payers aggressively negotiate discounts, prices could decline by [Z]% or more, impacting revenue streams substantially.
Long-Term Outlook
Given current trends, a gradual decline in pricing is anticipated following patent expiration, with stabilization at a lower price point driven by biosimilar competition. The exact timing and magnitude will depend on regulatory developments, market acceptance, and payer strategies.
Strategic Implications for Stakeholders
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Pharmaceutical Manufacturers: Innovate towards next-generation formulations or indications to prolong exclusivity. Prepare for biosimilar competition with strategic licensing or patent extensions.
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Buyers and Payers: Leverage formulary negotiations and explore value-based pricing justifications based on clinical outcomes.
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Investors: Monitor patent life cycles, regulatory approvals, and market penetration metrics to forecast revenue trajectories.
Key Takeaways
- NDC 51407-0251 commands premium pricing due to patent protection and clinical efficacy.
- The market is characterized by relatively stable demand but faces imminent pressure from biosimilar entrants post-patent expiration.
- Current pricing averages $[X], with potential annual increases driven by clinical demand; however, impending generic competition threatens price erosion.
- Policy changes, especially drug pricing reforms, will significantly influence future price trajectories.
- Strategic planning should focus on extending market exclusivity, optimizing reimbursement negotiations, and preparing for biosimilar competition.
Conclusion
The future pricing landscape for NDC 51407-0251 hinges on patent status, regulatory policies, and market competition. Stakeholders that proactively adapt—through innovation, strategic negotiations, and regulatory foresight—will better navigate the anticipated price shifts.
FAQs
Q1: When is the patent for NDC 51407-0251 set to expire, and what are the implications?
A: The patent expiry is projected for [year], after which biosimilar competitors may enter, likely causing a significant price reduction.
Q2: How does the inclusion in major formularies impact the drug’s market price?
A: Formularies influence access and reimbursement; inclusion typically leads to higher market share but may come with negotiated discounts impacting net pricing.
Q3: What factors could accelerate or decelerate the price decline post-patent expiry?
A: Factors include the speed of biosimilar approval, payer adoption strategies, regulatory incentives, and market acceptance.
Q4: Are there upcoming regulatory approvals that could influence the drug’s market value?
A: Yes; potential label expansions or new indications could extend exclusivity and sustain higher prices temporarily.
Q5: How should stakeholders prepare for changing market dynamics related to this drug?
A: Invest in biosimilar pipeline development, strengthen formulary negotiations, and explore licensing or lifecycle management strategies.
References
- IQVIA. U.S. Prescription Data. 2022.
- FDA. Office of New Drugs. Regulatory pathways for biosimilars. 2022.
- Centers for Medicare & Medicaid Services. Average Sale Price Reports. 2022.
- Patent filings and legal status documentation for NDC 51407-0251, 2023.
- Industry analysis reports by [Consulting Firm], 2022.
Note: The above analysis is based on publicly available data and strategic estimations; actual market performance may vary based on regulatory, economic, and clinical factors.
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