Introduction to Folic Acid and NDC Codes
Folic acid, a vital vitamin B9 supplement, is widely used to prevent and treat folate deficiency. The National Drug Code (NDC) 69315-127 identifies a specific formulation of folic acid tablets. To analyze the market and project prices for this drug, we need to consider several factors, including market trends, regulatory requirements, and the broader pharmaceutical landscape.
Market Context
Pharmaceutical Market Trends
The pharmaceutical market is influenced by various factors, including regulatory policies, technological advancements, and economic conditions. For instance, the increasing use of artificial intelligence (AI) in pharmaceutical development and operations is expected to shape the industry significantly in 2025. AI will be used more extensively in clinical development, data analysis, and decision-making processes, which could impact the efficiency and cost of drug production[3].
Price Transparency and Regulation
Price transparency is a critical aspect of the pharmaceutical market. Programs like Oregon's Drug Price Transparency Program aim to provide accountability for prescription drug pricing. These programs require manufacturers to report price increases and provide detailed information on the reasons behind these increases. However, the quality of submitted information can be variable, and there are still gaps in transparency, particularly regarding interactions within the pharmaceutical supply chain[2].
Folic Acid Market Analysis
Demand and Usage
Folic acid is a commonly prescribed supplement, especially for pregnant women and individuals with certain medical conditions. The demand for folic acid is relatively stable due to its essential role in preventing birth defects and treating folate deficiency.
Competitive Landscape
The market for folic acid supplements is competitive, with multiple manufacturers producing generic and branded versions. The NDC code 69315-127 is associated with Leading Pharma, LLC, but there are numerous other suppliers. The presence of generic versions, such as those from other manufacturers, can impact pricing due to competition[5].
Price Projections
Current Pricing
As of the latest data, the pricing for folic acid tablets can vary based on the manufacturer, dosage, and packaging. For example, the wholesale acquisition cost (WAC) for folic acid tablets can range from a few dollars to tens of dollars per package, depending on the specific formulation and quantity.
Future Price Trends
Given the competitive nature of the market and the presence of generic alternatives, the prices for folic acid tablets are likely to remain stable or experience modest increases. Here are some key factors influencing future price trends:
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Generic Competition: The availability of generic folic acid supplements will continue to keep prices in check. Generic versions often offer significant cost savings compared to branded products, which can limit price increases for all folic acid products.
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Regulatory Oversight: Programs aimed at increasing price transparency and regulating price increases will help maintain price stability. For instance, states like Oregon are implementing policies to monitor and control drug price hikes, which could prevent drastic price increases[2].
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Economic Factors: Economic conditions, such as inflation and changes in raw material costs, can influence the pricing of pharmaceuticals. However, given the widespread availability and low production costs of folic acid, these factors are less likely to cause significant price fluctuations.
Illustrative Statistics
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Price Stability: The median price increase for generic drugs, which includes folic acid, has been around 19.9% in recent years. However, this is an aggregate figure, and the actual price increase for folic acid is likely to be more modest due to its generic status[2].
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Market Size: While specific market size data for folic acid is not readily available, the overall vitamin and supplement market is substantial. The stability in demand for essential vitamins like folic acid ensures a consistent market size.
Expert Insights
Industry experts predict that the pharmaceutical industry will increasingly rely on external data and AI to optimize operations and decision-making. However, these advancements are more likely to impact the development and production of complex and high-cost drugs rather than generic supplements like folic acid[3].
Key Takeaways
- Stable Demand: The demand for folic acid is stable due to its essential health benefits.
- Generic Competition: The presence of generic alternatives keeps prices competitive.
- Regulatory Oversight: Price transparency programs and regulatory policies help maintain price stability.
- Economic Factors: Economic conditions have a minimal impact on the pricing of folic acid due to its low production costs.
- AI and Technological Advancements: These are more relevant to complex drug development rather than generic supplements.
FAQs
Q1: What is the NDC code for folic acid tablets by Leading Pharma, LLC?
- The NDC code for folic acid tablets by Leading Pharma, LLC is 69315-127[5].
Q2: How does generic competition affect the pricing of folic acid?
- Generic competition keeps prices competitive by offering cost-effective alternatives, which limits the ability of manufacturers to significantly increase prices.
Q3: What role do price transparency programs play in the pharmaceutical market?
- Price transparency programs, such as Oregon's, require manufacturers to report price increases and provide reasons for these increases, helping to maintain price stability and accountability.
Q4: How might AI and technological advancements impact the pricing of folic acid?
- AI and technological advancements are more likely to impact the development and production of complex drugs rather than generic supplements like folic acid.
Q5: What are the key factors influencing future price trends for folic acid?
- Key factors include generic competition, regulatory oversight, and economic conditions. However, given the stable demand and low production costs, significant price fluctuations are unlikely.
Sources
- FDA's National Drug Code Directory: Contains information about finished drug products, including folic acid tablets.
- Oregon's Drug Price Transparency Program: Provides insights into price transparency and regulatory oversight.
- 2025 Pharma Predictions: Discusses the role of AI and technological advancements in the pharmaceutical industry.
- NSCLC Market Forecast: While focused on NSCLC, it provides broader market analysis and trends.
- DailyMed Label: FOLIC ACID tablet: Specific information about the folic acid tablets with NDC code 69315-127.
