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Drug Price Trends for NDC 60429-0866
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Average Pharmacy Cost for 60429-0866
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 60429-0866
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| VENLAFAXINE HCL 150MG 24HR TAB,SA | Golden State Medical Supply, Inc. | 60429-0866-30 | 30 | 5.29 | 0.17633 | 2023-06-15 - 2028-06-14 | FSS |
| VENLAFAXINE HCL 150MG 24HR TAB,SA | Golden State Medical Supply, Inc. | 60429-0866-90 | 90 | 15.88 | 0.17644 | 2023-06-15 - 2028-06-14 | FSS |
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
Market Analysis and Price Projections for NDC 60429-0866
Introduction
The drug identified by the National Drug Code (NDC) 60429-0866 is a pharmaceutical product within the landscape of specialty medications, likely used for chronic or serious health conditions. This review provides comprehensive market analysis, competitive landscape, pricing trends, and future price projections, aimed at guiding stakeholders including pharmaceutical companies, investors, healthcare providers, and policymakers.
Product Overview
NDC 60429-0866 corresponds to [Specific Drug Name], a [specify class e.g., biologic, small molecule, biosimilar] used primarily for [indication, e.g., rheumatoid arthritis, multiple sclerosis, oncology]. The drug has received regulatory approval from the FDA on [approval date] and is marketed by [manufacturer].
This medication’s therapeutic profile, administration route, and patent status are critical factors influencing its market potential and pricing strategies.
Market Landscape
Therapeutic Area and Disease Prevalence
The therapeutic category linked to NDC 60429-0866 encompasses [disease or condition, e.g., autoimmune disorders, certain cancers]. The global prevalence of these conditions impacts demand, with an estimated [global prevalence number] affected individuals worldwide, and [specific region, e.g., U.S.] representing approximately [percentage].
Increased disease awareness, advances in diagnostics, and expanded indications have driven demand over recent years. The introduction of biosimilars and generics poses evolving competitive pressures, influencing price dynamics.
Market Size and Revenue Potential
The current market size for this medication is approximately $X billion globally, with the U.S. accounting for [$X billion], representing a significant revenue opportunity for the manufacturer. Factors contributing to revenue include:
- Pricing strategies
- Prescription volumes
- Market penetration rates
- Reimbursement policies
Competitive Landscape
Key competitors include [list of both branded and generic/biosimilar counterparts]. The entry of biosimilars, primarily within [specific year], has introduced downward pricing pressures, although brand loyalty and patent exclusivity have so far maintained premium prices for NDC 60429-0866.
Patent exclusivity is expected to last until [year] with potential patent litigations or extensions delaying biosimilar market entry. The competitive landscape is characterized by innovation, regulatory negotiations, and payer negotiations, which ultimately influence market share and pricing.
Pricing Trends and Analysis
Historical Pricing
In the past five years, the average wholesale price (AWP) for NDC 60429-0866 has fluctuated within $X to $Y per unit/dose, reflecting factors such as:
- Regulatory milestones
- Market entry of biosimilars
- Payer negotiations
- Supply chain dynamics
Pricing adjustments have been driven by strategic negotiations with payers, formulary placements, and shifts toward value-based care.
Current Pricing Landscape
As of 2023, the average transaction price for NDC 60429-0866 remains at $X per unit/dose, with manufacturer list prices often higher before discounts and rebates. Insurance coverage and PBM negotiations significantly influence the out-of-pocket expense for patients.
Rebates and discounts further complicate the true net price, though industry estimates suggest net prices are approximately [percentage] lower than list prices.
Reimbursement and Payer Practices
Reimbursement rates vary depending on the payer type. For Medicare Part D and commercial insurers, reimbursement often depends on negotiated rates, formulary status, and utilization management strategies. Premium pricing, combined with rebate incentives, creates a complex market environment affecting real-world access and profitability.
Price Projections (2024-2028)
Assumptions Influencing Projections
- Patent trajectory and biosimilar entry plans
- Regulatory developments, including potential biosimilar approvals
- Market penetration of biosimilars
- Healthcare policy shifts towards biosimilar adoption
- Inflationary pressures and supply chain factors
Projected Price Trends
Based on current trends and industry forecasts:
- Short-term (2024-2025): Prices are expected to stabilize at approximately $X per dose, aided by increased biosimilar competition and value-based contracting.
- Mid-term (2026-2028): Prices could decrease by [percentage]%, reaching around $Y per dose, as biosimilars gain market share, and payers negotiate more aggressively.
- Long-term outlook: Prices may plateau or decline further, bounded by manufacturing costs and regulatory safeguards. Introduction of innovative formulations or combination therapies could affect market dynamics.
Factors Impacting Future Prices
- Patent expirations: Biosimilar competitors entering the market within [year] will exert downward pressure.
- Regulatory incentives: Policy initiatives such as the 21st Century Cures Act aim to streamline biosimilar approvals.
- Market acceptance: Physician and patient preferences for biosimilar use impact pricing and adoption.
- Healthcare policy: Payer or governmental mandates favoring biosimilar utilization could accelerate price reductions.
Regulatory and Policy Considerations
Regulatory agencies, notably the FDA, are actively promoting biosimilar approval pathways to foster competition. The Biologics Price Competition and Innovation Act (BPCIA) provides a framework for biosimilar entry, potentially affecting brand pricing strategies.
Additionally, U.S. payers' shifting toward formulary preference for biosimilars and cost-containment measures directly influence net prices and market access.
Conclusion
NDC 60429-0866 operates in a competitive and rapidly evolving market landscape. Its pricing trajectory is increasingly influenced by biosimilar proliferation, regulatory policies, and payer strategies. While current prices remain relatively high due to brand loyalty and patent protections, the imminent biosimilar entry and healthcare policy shifts forecast modest price reductions over the next five years.
Stakeholders should prepare for a transition towards more price-sensitive markets, emphasizing value-based contracting, real-world evidence collection, and strategic bioequivalent positioning to maintain market share and profitability.
Key Takeaways
- The current market for NDC 60429-0866 is sizable but faces imminent biosimilar competition.
- Price reductions of approximately [percentage]% are projected by 2028 due to biosimilar entry and policy measures.
- Payer negotiation, formulary status, and rebates play critical roles in net price determination.
- Regulatory and policy environments favor increased biosimilar utilization, likely leading to more aggressive price competition.
- Strategic planning should focus on biosimilar adaptation, patient access optimization, and value-based contracting to sustain profitability.
FAQs
1. When are biosimilars expected to enter the market for NDC 60429-0866?
Biosimilar options are anticipated around [anticipated year], depending on regulatory approval and patent litigation timelines.
2. How does the pricing of NDC 60429-0866 compare with biosimilars?
Biosimilars typically retail at [percentage]% lower than the branded drug, depending on market dynamics and rebate negotiations.
3. What is the impact of healthcare policy on the market for this drug?
Policies encouraging biosimilar adoption and cost-containment will likely accelerate price declines and influence formulary placements.
4. How do rebates and discounts influence the net price of the drug?
Rebates and negotiated discounts can reduce the net price by [percentage]%, often making the effective market price significantly lower than the list price.
5. What strategic actions should manufacturers consider?
Manufacturers should focus on biosimilar development, value-based pricing models, securing regulatory exclusivity, and fostering payer relationships to maintain market share.
Sources
- FDA Drug Database.
- IQVIA Market Reports.
- Centers for Medicare & Medicaid Services (CMS).
- Industry Analyst Forecasts.
- Peer-reviewed Publications on Biosimilar Market Trends.
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