You're using a free limited version of DrugPatentWatch: Upgrade for Complete Access

Last Updated: February 6, 2025

Drug Price Trends for NDC 70000-0586


✉ Email this page to a colleague

« Back to Dashboard


Best Wholesale Price for NDC 70000-0586

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: 70000-0586

Introduction

When analyzing the market and projecting prices for a specific drug, such as the one identified by the National Drug Code (NDC) 70000-0586, it is crucial to consider several key factors. These include historical price trends, regulatory changes, international pricing comparisons, and the impact of negotiation programs.

Understanding the National Drug Code (NDC)

The NDC is a unique, three-segment number that identifies a drug product. It includes the labeler code, product code, and package code, providing a universal product identifier for human drugs[4].

Historical Price Trends

To project future prices, it is essential to examine historical price data. While the specific NDC 70000-0586 is not provided in the sources, we can infer general trends from similar data.

For example, the prices of another drug (NDC 70000-0046) have shown minor fluctuations over recent months, ranging from $0.04930 to $0.05555 per gram[1]. This stability suggests that prices for similar drugs might not experience drastic changes in the short term.

Regulatory Changes and Negotiation Programs

Significant regulatory changes, such as the Medicare Drug Price Negotiation Program, can impact drug prices substantially. Beginning in January 2026, this program will negotiate prices for certain high-expenditure, single-source drugs, leading to estimated savings of $6 billion in net covered prescription drug costs in 2023 if the negotiated prices had been in effect[5].

Impact of Medicare Drug Price Negotiation Program

The program's negotiated prices are expected to result in discounts ranging from 38% to 79% compared to list prices. This could set a precedent for future price negotiations and potentially influence the pricing of other drugs, including those with NDCs like 70000-0586[2].

International Pricing Comparisons

Drug prices in the U.S. are significantly higher than in other countries. For instance, 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 (excluding the U.S.)[3].

This disparity highlights the potential for price adjustments if international pricing benchmarks are considered in future negotiations or policy changes.

Market Size and Revenue Trends

The pharmaceutical market is diverse, with different trends for small molecule drugs and biologic products. In the U.S., sales revenues for biologic products grew by 61% between 2017 and 2022, while small molecule drugs saw a more modest growth of 4%[3].

Understanding these market dynamics can help predict how prices might shift based on demand and supply factors.

Price Projections

Given the current trends and regulatory environment:

Short-Term Projections

  • Stability: Prices for drugs like NDC 70000-0586 are likely to remain relatively stable in the short term, similar to the minor fluctuations observed in other drugs.
  • Regulatory Influence: The impact of the Medicare Drug Price Negotiation Program will be closely watched, but its direct effect on NDC 70000-0586 may not be immediate unless the drug is selected for negotiation.

Long-Term Projections

  • Potential Reductions: If the drug is selected for negotiation or if broader policy changes are implemented to align U.S. prices more closely with international benchmarks, significant price reductions could occur.
  • Market Dynamics: Continued growth in biologic products and changes in small molecule drug sales could influence pricing strategies and competition, potentially leading to more competitive pricing.

Key Takeaways

  • Historical price data indicates stability but is subject to regulatory and market changes.
  • The Medicare Drug Price Negotiation Program could significantly reduce prices for selected drugs.
  • International pricing disparities suggest potential for future price adjustments.
  • Market trends in biologic and small molecule drugs will continue to influence pricing.

FAQs

Q: What is the National Drug Code (NDC), and how does it relate to drug pricing? A: The NDC is a unique identifier for drug products, including the labeler, product, and package codes. It helps in tracking and pricing drugs but does not directly determine prices.

Q: How will the Medicare Drug Price Negotiation Program affect drug prices? A: The program is expected to reduce prices for selected high-expenditure drugs by negotiating discounts ranging from 38% to 79% compared to list prices.

Q: Why are drug prices in the U.S. higher than in other countries? A: Drug prices in the U.S. are influenced by a mix of higher-cost drugs and different pricing mechanisms compared to other countries.

Q: What are the potential long-term price projections for drugs like NDC 70000-0586? A: Long-term projections suggest potential price reductions if the drug is selected for negotiation or if broader policy changes align U.S. prices with international benchmarks.

Q: How do market trends in biologic and small molecule drugs impact pricing? A: Market trends can influence pricing strategies and competition, with biologic products showing significant growth and potentially driving more competitive pricing in the market.

Sources

  1. DrugPatentWatch - Latest pharmaceutical drug prices and trends for NDC 70000-0046.
  2. ASPE - Medicare Drug Price Negotiation Program: Medicare Prices Negotiated for 2026 Compared to List and U.S. Market Prices.
  3. ASPE - International Market Size and Prices.
  4. FDA - National Drug Code Database Background Information.
  5. CMS - Negotiated Prices for Initial Price Applicability Year 2026.

More… ↓

⤷  Try for Free

Make Better Decisions: Try a trial or see plans & pricing

Drugs may be covered by multiple patents or regulatory protections. All trademarks and applicant names are the property of their respective owners or licensors. Although great care is taken in the proper and correct provision of this service, thinkBiotech LLC does not accept any responsibility for possible consequences of errors or omissions in the provided data. The data presented herein is for information purposes only. There is no warranty that the data contained herein is error free. thinkBiotech performs no independent verification of facts as provided by public sources nor are attempts made to provide legal or investing advice. Any reliance on data provided herein is done solely at the discretion of the user. Users of this service are advised to seek professional advice and independent confirmation before considering acting on any of the provided information. thinkBiotech LLC reserves the right to amend, extend or withdraw any part or all of the offered service without notice.