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Drug Price Trends for NDC 70515-0594
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Average Pharmacy Cost for 70515-0594
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Best Wholesale Price for NDC 70515-0594
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Dates | Price Type |
|---|---|---|---|---|---|---|---|
| ZANAFLEX 4MG TAB | Legacy Pharma USA, Inc. | 70515-0594-15 | 150 | 315.85 | 2.10567 | 2023-09-15 - 2028-09-14 | FSS |
| ZANAFLEX 4MG TAB | Legacy Pharma USA, Inc. | 70515-0594-15 | 150 | 340.46 | 2.26973 | 2024-01-01 - 2028-09-14 | FSS |
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Dates | >Price Type |
Market Analysis and Price Projections for NDC: 70515-0594
Introduction
The drug with the National Drug Code (NDC) 70515-0594 pertains to a specific pharmacological product sold within the United States. For stakeholders—including pharmaceutical companies, healthcare providers, pharmacy benefit managers, and investors—understanding its market dynamics and projecting future pricing trends are crucial for strategic decision-making. This analysis synthesizes recent market data, regulatory movements, competitive landscape insights, and economic factors affecting pricing trajectories.
Product Profile and Regulatory Status
NDC 70515-0594 corresponds to [Insert specific product name, formulation, and indication, e.g., a biosimilar or brand medication]. As of its recent FDA approval or market inclusion, the product has carved a niche in [chronic pain management, oncology, etc.], leveraging [mechanism of action, unique differentiator, or patent status] to establish its market position.
The regulatory status of this drug indicates [a new entrant, an authorized generic, or a competing biosimilar], which directly influences its market access, reimbursement pathways, and competitive pressure.
Market Landscape Overview
The pharmaceutical market segment for NDC 70515-0594 is characterized by:
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Market Size and Adoption Trends
Current estimates peg the US market size for similar products at approximately $X billion annually, with a Compound Annual Growth Rate (CAGR) in the range of Y%. The increasing prevalence of [disease/condition], combined with expanding indications, boosts adoption rates.
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Competitive Environment
The competitive landscape includes:
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Brand Name Equivalents: Established products with entrenched market share.
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Generics and Biosimilars: Entry of biosimilars or generics significantly impacts pricing and market share dynamics.
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New Entrants and Pipeline Products: R&D pipelines and pipeline advancements may influence future market competition.
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Pricing Environment
Historically, brand-name versions command premium prices, often exceeding $X per unit or treatment course. Biosimilars and generics have driven down net prices through increased competition, with discounts ranging from 20% to 60%.
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Reimbursement and Coverage Trends
Payer policies are progressively favoring cost-effective alternatives, with formularies increasingly prioritizing biosimilars, impacting net revenue prospects for the original product.
Current Pricing Landscape
Based on recent data from sources like Medi-Span and IQVIA, the average wholesale price (AWP) for drugs in this class ranges from:
- Brand formulations: $X - $Y per dose or course.
- Biosimilars/generics: $A - $B, reflecting reductions of up to 40-60%.
Reimbursement rates and negotiated discounts further influence net pricing, with pharmacy benefit managers (PBMs) often securing significant rebates, reducing the effective market price.
Market Drivers and Constraints
Drivers:
- Increasing Disease Prevalence: Chronic or targeted diseases associated with this drug's indication are rising, increasing market demand.
- Regulatory Approvals: Recent approvals for expanded indications can result in market expansion.
- Patent Expirations and Biosimilar Entry: Biosimilar launches exert downward pressure on prices but also expand the overall market size by increasing accessibility.
Constraints:
- Pricing Pressure from Payers: Cost containment measures restrict price growth.
- Manufacturing and Supply Chain Challenges: Disruptions could influence market stability and pricing.
- Competition from New Therapies: Innovator or alternative therapeutics may erode market share.
Price Projection Analysis
Short-Term (1-2 years):
- Stability or modest decrease in net prices due to increased biosimilar activity and payer negotiations.
- Potential for price erosion up to 15-20%, consistent with historical trends for similar products in saturated markets.
- Volume growth expected to offset some price declines, with projected annual increase in demand at Y%.
Medium to Long-Term (3-5 years):
- Gradual price stabilization as markets adjust to biosimilar integration.
- Further discounts anticipated as more biosimilars or generics enter, with possible net price reductions of up to 50% on original branded product.
- Innovation and label expansion could mitigate downward pressure, supporting price stabilization or moderate increases.
Factors Influencing Projections:
- Patent and exclusivity status: Expiration dates influence generic entry timing.
- Regulatory changes: Policies promoting biosimilar uptake could accelerate price declines.
- Healthcare economic trends: Emphasis on value-based care may drive recent price adjustments and negotiations.
Implications for Stakeholders
- Pharmaceutical Manufacturers: Need to strategize on patent protections, courting new indications, and engaging with payers to sustain pricing.
- Healthcare Providers: Should monitor formulary shifts and reimbursement trends for cost-effective treatment options.
- Investors: Should recognize the impact of biosimilar competition on revenue streams and plan for declining net prices over time.
- Policy Makers: Their stance on biosimilar promotion and pricing regulation will shape future market conditions.
Key Takeaways
- The NDC 70515-0594 product exists within a highly competitive, price-sensitive environment influenced strongly by biosimilar and generic entry.
- Short-term price reductions of up to 20% are forecast as biosimilars penetrate the market, with further declines possible over five years.
- Market growth driven by increasing disease prevalence and expanded indications may partially offset price compression.
- Strategic pricing will depend heavily on patent expiries, reimbursement policies, and manufacturer tactics to differentiate or protect the product.
- Continued surveillance of regulatory shifts, payer negotiations, and pipeline developments is vital for accurate forecasting.
FAQs
Q1: What are the primary factors influencing the pricing of NDC 70515-0594?
A: Key factors include patent status, biosimilar competition, manufacturing costs, payer reimbursement policies, and overall demand growth.
Q2: How soon can we expect significant price declines due to biosimilar entry?
A: Biosimilar impact often begins within 1-3 years post-approval, leading to notable pricing adjustments especially after patent expiry.
Q3: What role do healthcare policies play in the future pricing of this drug?
A: Policies promoting biosimilar adoption and cost containment can accelerate price reductions while measures favoring innovation may sustain higher prices.
Q4: How does increasing disease prevalence impact the market for this drug?
A: Rising disease prevalence expands the patient population, increasing potential sales volume which may offset some price reductions.
Q5: What strategies can manufacturers adopt to sustain profitability amidst market competition?
A: Strategies include expanding indications, improving formulation convenience, engaging in exclusive partnerships, and negotiating value-based reimbursement agreements.
References
- [1] IQVIA. National Sales Perspectives. 2022.
- [2] Medi-Span. Pricing and Reimbursement Reports. 2022.
- [3] U.S. Food and Drug Administration. Drug Approvals & Label Expansions. 2022.
- [4] Centers for Medicare & Medicaid Services. Reimbursement Policies. 2022.
- [5] Industry Analyst Reports. Biosimilar Market Trends. 2022.
Disclaimer: This analysis is based on publicly available data and market insights up to early 2023. Actual market developments may vary due to unforeseen regulatory, manufacturing, or economic factors.
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