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Last Updated: February 7, 2025

Drug Price Trends for NDC 62011-0019


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Best Wholesale Price for NDC 62011-0019

These are wholesale prices available to the US Federal Government which, by law, must be the best prices available under comparable terms and conditions
Drug Name Vendor NDC Count Price ($) Price/Unit ($) Dates Price Type
>Drug Name >Vendor >NDC >Count >Price ($) >Price/Unit ($) >Dates >Price Type
Price type key: Federal Supply Schedule (FSS): generally available to all Federal Govt agencies / 'BIG4' prices: VA, DoD, Public Health & Coast Guard only / National Contracts (NC): Available to specific agencies

Market Analysis and Price Projections for the Drug NDC: 62011-0019

Understanding the NDC Directory

To analyze the market and project prices for a specific drug identified by its National Drug Code (NDC), it is crucial to understand the NDC Directory and its components. The FDA's NDC Directory contains information about finished drug products, unfinished drugs, and compounded drug products, each identified by a unique three-segment NDC number[4].

Identifying the Drug

The NDC 62011-0019 corresponds to a specific drug product. To identify this drug, one would need to search the FDA's NDC Directory, which is updated daily. This directory provides detailed information, including the drug's name, active ingredients, dosage form, strength, and the labeler (manufacturer, repackager, or relabeler)[4].

Market Trends in Pharmaceutical Expenditures

Pharmaceutical expenditures in the United States have been on the rise, driven by several factors:

  • Utilization and New Drugs: Increases in drug utilization and the introduction of new drugs have significantly contributed to the growth in pharmaceutical expenditures. For example, in 2021, overall pharmaceutical expenditures grew by 7.7% compared to 2020, driven by a 4.8% increase in utilization and a 1.1% increase from new drugs[2].
  • Specialty and Cancer Drugs: These categories continue to drive expenditures. Drugs like adalimumab, apixaban, and dulaglutide have been among the top contributors to overall expenditures in recent years[2][5].
  • COVID-19 Pandemic Influence: The pandemic has also influenced drug spending, particularly in clinics and hospitals, where new products and increased utilization have been notable[2][5].

Price Projections

Overall Prescription Drug Spending

For 2022, overall prescription drug spending was projected to rise by 4.0% to 6.0%. In clinics and hospitals, the increases were anticipated to be 7.0% to 9.0% and 3.0% to 5.0%, respectively, compared to 2021[2].

Sector-Specific Projections

  • Clinics: Growth in clinics is driven by new products and increased utilization. Decreasing prices act as an expense restraint but do not significantly impact the overall growth trend[2][5].
  • Hospitals: In hospitals, the growth is also influenced by new products, although reduced utilization can sometimes lead to decreases in expenditures[2][5].

Over-The-Counter (OTC) Drugs Market

While the NDC 62011-0019 might not be an OTC drug, understanding the broader market trends is helpful. The U.S. OTC drugs market is expected to grow from USD 42.80 billion in 2024 to USD 53 billion by 2029, at a CAGR of 4.40%. This growth is driven by the high cost of prescription drugs and increased OTC drug approvals[3].

Factors Influencing Drug Prices

Several factors can influence the price of a specific drug:

  • New Drug Approvals: The introduction of new drugs can impact the market by offering alternative treatments and potentially affecting the pricing of existing drugs.
  • Patent Expirations: When patents expire, generic versions of drugs can enter the market, leading to price reductions.
  • Policy and Legislation: Changes in healthcare policies and legislation can affect drug pricing and reimbursement rates.
  • Market Competition: The level of competition in the market can also influence drug prices, with more competition generally leading to lower prices[2][5].

Specific Price Projections for NDC 62011-0019

To make specific price projections for the drug with NDC 62011-0019, one would need to analyze the following:

  • Current Pricing: Check the current market price of the drug.
  • Market Trends: Consider the overall trends in pharmaceutical expenditures and the specific sector where the drug is used.
  • Competitive Landscape: Analyze the competition in the market for similar drugs.
  • Regulatory Changes: Look for any upcoming regulatory changes that could affect pricing.

Given the general trends, if the drug is a prescription drug used in clinics or hospitals, it is likely to see a price increase in line with the sector's growth projections (7.0% to 9.0% for clinics and 3.0% to 5.0% for hospitals)[2].

Example Analysis

If the drug with NDC 62011-0019 is a specialty drug used in clinics, and its current price is $100 per unit, a projected increase of 7% to 9% would result in a new price range of $107 to $109 per unit by the end of 2024.

Key Takeaways

  • Market Growth: Pharmaceutical expenditures are expected to continue growing, driven by increased utilization and new drug approvals.
  • Sector-Specific Trends: Clinics and hospitals have different growth patterns, with clinics seeing higher growth rates.
  • Regulatory and Competitive Factors: Changes in regulations, patent expirations, and market competition can significantly impact drug prices.
  • OTC Market Influence: While not directly applicable to prescription drugs, the OTC market's growth can indicate broader consumer trends and preferences.

FAQs

  1. What is the NDC Directory, and how is it updated?

    • The NDC Directory is a database maintained by the FDA that contains information about all listed drugs in the U.S. It is updated daily and includes data on finished, unfinished, and compounded drug products[4].
  2. What factors drive the growth in pharmaceutical expenditures?

    • Growth is driven by increased drug utilization, new drug approvals, and the influence of the COVID-19 pandemic, among other factors[2][5].
  3. How does the COVID-19 pandemic affect drug spending?

    • The pandemic has led to increased utilization and the introduction of new products, particularly in clinics and hospitals[2][5].
  4. What is the projected growth rate for the U.S. OTC drugs market?

    • The U.S. OTC drugs market is expected to grow at a CAGR of 4.40% from 2024 to 2029[3].
  5. How can regulatory changes affect drug prices?

    • Regulatory changes, such as new policies or legislation, can impact drug pricing by affecting reimbursement rates and market competition[2][5].

Sources

  1. YouTube - NDC Directory (March 2015)
  2. PubMed - National trends in prescription drug expenditures and projections for 2022
  3. GlobeNewswire - U.S. OTC Drugs Market Forecast Report 2024-2029
  4. FDA - National Drug Code Directory
  5. PubMed - National trends in prescription drug expenditures and projections for 2021

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