Overview of Fenofibric Acid
Fenofibric acid, marketed under various brand names, is a medication used to treat high cholesterol and triglyceride levels. It belongs to the class of fibric acid derivatives and is often prescribed to reduce the risk of cardiovascular events.
Manufacturer and NDC Code
The NDC code 70436-0168 is associated with Fenofibric Acid manufactured by Slate Run Pharmaceuticals, LLC[4].
Current Market Context
Drug Pricing Trends
The pharmaceutical market is experiencing significant price inflation, particularly driven by specialty medications. According to Vizient, Inc., the projected drug price inflation for 2024 is 3.8%, with specialty pharmaceuticals being a major contributor to this increase[3].
Specific Price Trends for Fenofibric Acid
While the specific price trend for Fenofibric Acid (NDC 70436-0168) is not detailed in the available sources, it is part of a broader category of medications that have seen price increases over recent years. Many drugs, especially those treating chronic conditions, have experienced price hikes ranging from 20% to 55% between 2018 and 2023[2].
Price Projections
General Projections
Given the overall trend in the pharmaceutical market, it is likely that the price of Fenofibric Acid will continue to rise, albeit at a rate that may be influenced by various factors such as competition, regulatory changes, and market demand.
Impact of Medicare Drug Price Negotiation Program
The Medicare Drug Price Negotiation Program, set to begin in 2026, aims to negotiate prices for high-expenditure, single-source drugs. While Fenofibric Acid is not specifically mentioned among the first set of drugs selected for negotiation, the program's impact on the broader pharmaceutical market could indirectly affect pricing strategies for other medications, including those like Fenofibric Acid.
For instance, if the negotiated prices for other drugs result in significant savings, there could be pressure on manufacturers to adjust their pricing strategies to remain competitive. According to CMS, the negotiated prices for the first cycle of negotiations are expected to save an estimated $6 billion in net covered prescription drug costs, which could set a precedent for future price negotiations[5].
Market Dynamics
Competition and Generics
The presence of generic versions of Fenofibric Acid can influence pricing. Generic drugs typically offer a more affordable alternative, which can drive down the prices of brand-name and generic equivalents. However, the specific impact on Fenofibric Acid would depend on the market share of generics and the pricing strategies of competitors.
Regulatory Environment
Regulatory changes, such as those introduced by the Inflation Reduction Act, can significantly impact drug pricing. The act includes provisions like a cap on out-of-pocket drug costs for Medicare beneficiaries, which could influence how manufacturers price their drugs to maintain market share and profitability[5].
Consumer and Payer Impact
Affordability
For consumers, particularly those on Medicare, the rising costs of prescription drugs like Fenofibric Acid can pose significant affordability challenges. The Medicare Drug Price Negotiation Program and other cost-saving provisions aim to mitigate these challenges by reducing out-of-pocket costs and overall spending on prescription drugs[2][5].
Healthcare Providers
Healthcare providers and payers are also affected by rising drug costs. Managing pharmacy expenditures and strengthening the supply chain are critical in this environment. According to Vizient, Inc., many hospitals have faced drug shortages and rising costs, making effective management of pharmacy spend more important than ever[3].
Key Takeaways
- Price Inflation: The pharmaceutical market, including drugs like Fenofibric Acid, is experiencing a projected 3.8% price inflation driven by specialty medications.
- Regulatory Impact: The Medicare Drug Price Negotiation Program and other regulatory changes could indirectly influence pricing strategies for Fenofibric Acid.
- Market Dynamics: Competition from generics and the overall market demand will play a role in determining the future price of Fenofibric Acid.
- Consumer and Payer Impact: Rising drug costs pose affordability challenges, but programs aimed at reducing these costs are being implemented.
FAQs
What is the current recommended dose for Fenofibric Acid?
The recommended dose for Fenofibric Acid is typically determined by the prescribing physician, but it is often prescribed in doses similar to other fibric acid derivatives.
How does the Medicare Drug Price Negotiation Program affect drug prices?
The program negotiates prices for high-expenditure, single-source drugs, which can lead to significant discounts and savings for Medicare beneficiaries and taxpayers.
What are the main drivers of drug price inflation in 2024?
Specialty pharmaceuticals, including weight loss drugs and gene therapies, are driving the projected 3.8% drug price inflation in 2024.
How do generic versions of drugs impact pricing?
Generic versions typically offer a more affordable alternative, which can drive down the prices of both brand-name and generic equivalents.
What regulatory changes are affecting drug pricing in the U.S.?
The Inflation Reduction Act includes provisions such as a cap on out-of-pocket drug costs for Medicare beneficiaries and the Medicare Drug Price Negotiation Program, which aim to reduce prescription drug costs.
Sources
- DailyMed: DESVENLAFAXINE tablet, extended release - DailyMed
- ASPE - HHS.gov: Medicare Drug Price Negotiation Program - ASPE - HHS.gov
- Vizient, Inc.: Vizient Projects 3.8% Drug Price Increase Driven by Specialty Pharmaceuticals
- FindACode: Slate Run Pharmaceuticals - List of Drugs - NDC Labeler/Manufacturer
- CMS: Negotiated Prices for Initial Price Applicability Year 2026 - CMS
Last updated: 2025-01-02
