Understanding the National Drug Code (NDC)
The National Drug Code (NDC) is a unique identifier assigned to each drug product, including the labeler, product, and package size. For the drug with NDC 70000-0057, this code corresponds to "CHILD COLD-ALLERGY LIQUID."
Current Market Prices
As of the latest data, the prices for CHILD COLD-ALLERGY LIQUID (NDC 70000-0057) have been relatively stable but subject to minor fluctuations.
- Price per Unit: The price per milliliter (ML) has ranged from $0.02240 to $0.02277 over the past few months. For example, as of December 18, 2024, the price was $0.02240 per ML, and as of November 20, 2024, it was $0.02277 per ML[1].
Historical Price Trends
Analyzing historical data is crucial for understanding price trends.
- Recent Fluctuations: The prices have shown minimal variation, indicating a stable market for this particular drug. This stability suggests that the demand and supply dynamics for CHILD COLD-ALLERGY LIQUID are well-balanced.
- Long-term Stability: Over the past year, the prices have remained consistent, with no significant increases or decreases. This long-term stability is a positive indicator for both consumers and manufacturers.
Industry-Wide Price Trends
To put the prices of CHILD COLD-ALLERGY LIQUID into context, it's important to look at broader industry trends.
- Generic vs. Brand Name Drugs: Industry-wide, generic drugs have seen higher price increases compared to brand name drugs. For instance, the median price increase for generic drugs was 20%, while for brand name drugs it was 14.9% in 2022[4].
- Extreme Price Increases: There have been cases of drastic price increases, such as a 2,527% increase for a generic naproxen manufactured by Hikma Pharmaceuticals between 2012 and 2021[2].
Factors Influencing Drug Prices
Several factors contribute to the pricing of prescription drugs.
- Competition: Competition in the generics market can significantly reduce drug prices. For example, the WAC price for generic fingolimod decreased by 84% to 97% due to competition from multiple manufacturers[4].
- Regulatory Environment: Initiatives like the Prescription Drug Price Transparency Program and Medicare price negotiations can impact drug prices. The Biden-Harris Administration's negotiations have resulted in lower prices for several high-cost drugs, saving millions of dollars for Medicare beneficiaries[5].
Price Projections
Given the current market stability and industry trends, here are some projections for the future prices of CHILD COLD-ALLERGY LIQUID.
- Short-term Projections: Based on the recent stable prices, it is likely that the price per unit will remain in the range of $0.02240 to $0.02277 per ML in the short term.
- Long-term Projections: If the broader industry trends continue, with generic drugs experiencing occasional significant price increases, it is possible that CHILD COLD-ALLERGY LIQUID could see minor adjustments. However, given its current stability, drastic changes are unlikely.
Impact of Regulatory Changes
Regulatory changes can significantly impact drug prices.
- Medicare Price Negotiations: The success of Medicare price negotiations for high-cost drugs could set a precedent for other drugs, potentially leading to more aggressive price negotiations across the board[5].
- Transparency Programs: Programs like the Prescription Drug Price Transparency Program can help in understanding and controlling price increases by requiring manufacturers to provide detailed reasons for price hikes[4].
Consumer and Market Implications
The stable prices of CHILD COLD-ALLERGY LIQUID have several implications.
- Consumer Affordability: Stable prices ensure that consumers can afford the medication without significant financial strain.
- Market Stability: This stability is beneficial for manufacturers as it allows for predictable revenue streams and better planning.
Key Takeaways
- The price of CHILD COLD-ALLERGY LIQUID (NDC 70000-0057) has been stable, ranging from $0.02240 to $0.02277 per ML.
- Industry-wide trends show higher price increases for generic drugs compared to brand name drugs.
- Regulatory changes and competition can significantly impact drug prices.
- Short-term and long-term projections suggest continued stability in the price of CHILD COLD-ALLERGY LIQUID.
FAQs
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What is the current price per unit of CHILD COLD-ALLERGY LIQUID (NDC 70000-0057)?
- As of the latest data, the price per milliliter (ML) ranges from $0.02240 to $0.02277[1].
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How do industry-wide price trends affect CHILD COLD-ALLERGY LIQUID?
- Industry trends show higher price increases for generic drugs, but CHILD COLD-ALLERGY LIQUID has remained stable due to its specific market dynamics[4].
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What role does competition play in drug pricing?
- Competition, especially in the generics market, can significantly reduce drug prices by increasing supply and reducing monopoly power[4].
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How do regulatory changes impact drug prices?
- Regulatory changes, such as Medicare price negotiations and transparency programs, can lead to lower prices and more transparent pricing practices[5].
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What are the implications of stable prices for consumers and manufacturers?
- Stable prices ensure consumer affordability and provide manufacturers with predictable revenue streams, aiding in better planning and market stability.
Last updated: 2025-01-06
