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At the JP Morgan Healthcare Conference in San Francisco today, AbbVie CEO Richard Gonzalez vowed to keep drug price increases below 10%. AbbVie is joining Allergan and Novo Nordisk in setting a ceiling on price increases.
Talk about timing: Gonzalez spoke after Trump took slugs at the pharmaceutical industry during his press conference. AbbVie shares, along with the rest of the pharmaceutical industry, fell sharply--AbbVie ended up down 3.6%