Understanding the National Drug Code (NDC)
Before diving into the market analysis and price projections, it's essential to understand what the National Drug Code (NDC) is. The NDC is a unique 11-digit code assigned to each drug product, including prescription and over-the-counter drugs, by the FDA. It is structured in a 5-4-2 format and is crucial for identifying and tracking drug products[4].
NDC 62011-0380: Identification and Context
To analyze the market and price trends for the drug with NDC 62011-0380, we need to identify the drug name and its classification. However, the provided sources do not specify the drug name associated with this NDC. Typically, you would refer to the FDA's National Drug Code Directory or other pharmaceutical databases to find this information[4].
Market Trends in Pharmaceutical Pricing
Global Pricing Disparities
Pharmaceutical pricing varies significantly across different regions. In the U.S., drug prices are notably higher compared to other parts of the world. For instance, in 2022, the average price per unit in the U.S. was 5.5 times higher than in the OECD (excluding the U.S.) and 7.7 times higher than in the rest of the world (excluding the U.S.)[3].
Recent Price Increases
The pharmaceutical market has seen substantial price increases in recent years. For example, the median price increase for brand-name drugs was 13.4% in 2022, which can serve as a benchmark for future price adjustments[2].
Price Projections
Historical Price Trends
To project future prices, it's important to look at historical price trends. For drugs like Imatinib Mesylate (NDC 00378-2245), prices have shown a fluctuating but generally increasing trend over the past few years. For instance, the price per unit of Imatinib Mesylate increased from $0.50016 in September 2024 to $0.66780 in December 2024[2].
General Market Trends
Given the broader market trends, it is likely that the price of the drug associated with NDC 62011-0380 will continue to rise, albeit at a rate that may vary based on several factors such as market demand, competition, and regulatory changes.
Factors Influencing Drug Prices
Regulatory Requirements
The FDA's National Drug Code Directory and the CMS's Open Payments system play critical roles in regulating and tracking drug prices. For example, beginning in Program Year 2021, drug or biological names and NDCs must match the CMS-approved dataset for submission to the Open Payments system[1].
Market Dynamics
The sales revenues in the pharmaceutical market have grown differently across retail and non-retail sectors. In the U.S., sales revenues grew by 22% in retail and 26% in non-retail markets between 2017 and 2022, while other regions saw declines in retail sales but growth in non-retail sales[3].
Biologic vs. Small Molecule Drugs
The market trends for biologic products and small molecule drugs differ significantly. Biologic products have seen a 61% growth in sales revenues in the U.S. between 2017 and 2022, whereas small molecule drugs saw a modest 4% growth during the same period[3].
Regional Price Variations
Prices for the same drug can vary significantly across different regions. The U.S. has higher prices compared to the OECD and the rest of the world, partly due to a drug mix that skews towards more expensive compounds[3].
Conclusion
While specific price projections for the drug with NDC 62011-0380 cannot be made without identifying the drug name and its market context, general trends suggest that pharmaceutical prices are likely to continue rising. Here are some key takeaways:
Key Takeaways
- Global Pricing Disparities: Drug prices in the U.S. are significantly higher than in other regions.
- Recent Price Increases: Median price increases for brand-name drugs have been substantial, such as the 13.4% increase in 2022.
- Regulatory Compliance: Drug names and NDCs must match CMS-approved datasets for submission to the Open Payments system.
- Market Dynamics: Sales revenues have grown differently across retail and non-retail sectors.
- Drug Type: Biologic products have seen higher growth rates compared to small molecule drugs.
FAQs
What is the National Drug Code (NDC)?
The National Drug Code (NDC) is a unique 11-digit code assigned to each drug product by the FDA, used for identifying and tracking drug products.
How do drug prices vary globally?
Drug prices in the U.S. are 5.5 times higher than in the OECD (excluding the U.S.) and 7.7 times higher than in the rest of the world (excluding the U.S.).
What was the median price increase for brand-name drugs in 2022?
The median price increase for brand-name drugs was 13.4% in 2022.
How do regulatory requirements impact drug pricing?
Regulatory requirements, such as matching CMS-approved datasets, are crucial for submitting payment records to the Open Payments system and can influence pricing transparency and compliance.
What are the differences in market trends between biologic and small molecule drugs?
Biologic products have seen a 61% growth in sales revenues in the U.S. between 2017 and 2022, while small molecule drugs saw a modest 4% growth during the same period.
Sources
- Drug Name and National Drug Code (NDC) Reference Data Instructions - CMS
- Latest drug prices and trends for NDC 00378-2245 - DrugPatentWatch
- ISSUE BRIEF: International Market Size and Prices - ASPE
- National Drug Code Directory - FDA
