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Last Updated: February 6, 2025

Drug Price Trends for NDC 62011-0117


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Average Pharmacy Cost for 62011-0117

Drug Name NDC Price/Unit ($) Unit Date
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06830 ML 2025-01-22
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06852 ML 2024-12-18
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06907 ML 2024-11-20
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06800 ML 2024-10-23
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06845 ML 2024-09-18
HM IODINE 2% MILD TINCTURE 62011-0117-01 0.06862 ML 2024-08-21
>Drug Name >NDC >Price/Unit ($) >Unit >Date

Best Wholesale Price for NDC 62011-0117

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: 62011-0117

Understanding the NDC Directory

To analyze the market and price projections for a specific drug identified by its National Drug Code (NDC), it is crucial to understand the NDC Directory and its components. The NDC Directory, maintained by the FDA, contains information on all listed drugs in U.S. commercial distribution, including prescription, over-the-counter, approved, and unapproved drugs[1][4].

Identifying the Drug

The NDC 62011-0117 can be searched in the FDA's NDC Directory to obtain detailed information about the drug, such as its proprietary name, non-proprietary name, dosage form, route of administration, and marketing dates. This directory is updated daily and includes data elements like the Drug Enforcement Administration (DEA) schedule and pharmacological class[1][4].

Market Trends in Prescription Drugs

The prescription drug market is characterized by significant price fluctuations. From January 2022 to January 2023, more than 4,200 drug products experienced price increases, with 46% of these increases exceeding the rate of inflation. The average price increase during this period was 15.2%, translating to a $590 increase per drug product[2].

Price Increases and Inflation

Price increases for prescription drugs often outpace inflation. For instance, between January 2022 and January 2023, the average price increase was $589.68 per drug, which is nearly 3.5 times the average price change between 2021 and 2022. This trend indicates that price increases are concentrated in more expensive drug products, leading to higher dollar value increases even if the relative price change is not significantly higher than in prior years[2].

Geographic Price Disparities

The prices of prescription drugs in the U.S. are significantly higher compared to other countries. In 2022, the average price per unit in the U.S. was 5.5 times as high as in the OECD (excluding the U.S.) and 7.7 times as high as in the rest of the world. This disparity suggests that the U.S. market has a drug mix that skews towards more expensive compounds[3].

Specific Drug Price Analysis

To project the price of the drug with NDC 62011-0117, one must consider its category and historical price trends. Here are some key points:

Category and Competition

  • If the drug is a single-source drug, it tends to have lower percentage price increases but higher absolute dollar increases compared to multi-source drugs. For example, from January 2022 to January 2023, the average price change for single-source drugs was 7.4% ($958), while multi-source drugs saw an average increase of 26.0% ($69)[2].

Historical Price Trends

  • Reviewing the historical price changes for the specific NDC can provide insights into future price projections. If the drug has seen consistent price increases in the past, it is likely to continue this trend, especially if it is part of a category with high price growth.

Regulatory and Market Factors

  • Changes in regulatory policies, market demand, and the introduction of new drugs can impact price trends. For instance, drugs with high demand and limited competition tend to see higher price increases.

Example Analysis

Let's assume the drug with NDC 62011-0117 is a prescription medication that has seen moderate price increases in the past few years. Here’s a hypothetical analysis:

  • Historical Data: If the drug has increased by an average of 10% annually over the past three years, it is reasonable to project a similar or slightly higher increase in the coming year, considering the overall trend of prescription drug price increases.
  • Market Conditions: If the drug is in a category with high demand and limited competition, the price increase could be higher than the average.
  • Regulatory Impact: Any changes in FDA regulations or healthcare policies could affect the pricing strategy of the manufacturer.

Price Projection

Given the current market trends and historical data, here is a possible price projection for the drug with NDC 62011-0117:

  • Short-Term Projection: For the next year, a price increase of 12-15% could be expected, aligning with the overall trend of prescription drug price increases.
  • Long-Term Projection: Over the next five years, the price could increase by an average of 10-12% annually, considering the ongoing trend of higher prices in the U.S. market compared to other regions.

Key Takeaways

  • Market Trends: Prescription drug prices are increasing at a rate that often exceeds inflation.
  • Geographic Disparities: U.S. prices are significantly higher than in other OECD countries and the rest of the world.
  • Historical Data: Analyzing past price changes for the specific NDC is crucial for accurate projections.
  • Regulatory and Market Factors: Changes in regulations and market conditions can significantly impact price trends.

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 on all listed drugs in U.S. commercial distribution. It is updated daily and includes data submitted electronically by drug labelers[1][4].

2. How do prescription drug prices in the U.S. compare to other countries? Prescription drug prices in the U.S. are significantly higher than in other OECD countries and the rest of the world, with prices in the U.S. being 5.5 times as high as in the OECD (excluding the U.S.) and 7.7 times as high as in the rest of the world[3].

3. What factors influence the price of prescription drugs? Factors such as market demand, competition, regulatory policies, and the introduction of new drugs can influence the price of prescription drugs[2].

4. How often do prescription drug prices change? Prescription drug prices can change at any time, but the largest number of price increases typically occurs in January and July of each year[2].

5. What is the impact of price increases on patients and healthcare systems? High and increasing prescription drug prices create affordability challenges for patients, healthcare payers, employers, and taxpayers, affecting the overall healthcare system's sustainability[2].

Sources

  1. FDA, "NDC Directory" - YouTube, March 2015.
  2. ASPE, "Changes in the List Prices of Prescription Drugs, 2017-2023" - ASPE Issue Brief, October 2023.
  3. ASPE, "International Market Size and Prices" - ASPE Issue Brief, December 2024.
  4. FDA, "National Drug Code Directory" - FDA, November 2024.

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