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Drug price increases are here again. Photo: Gerard Julien/AFP/Getty Images

A handful of pharmaceutical companies raised the prices of their drugs, effective Jan. 1, according to the Wall Street Journal and reports from pharmaceutical industry analysts.

The bottom line: This was expected, and the drug price increases will continue. Drug companies are following through on decisions that prioritize earnings over politics.

Details: New Year's Day traditionally has been a popular time for drugmakers to hike prices. This story from last January is almost identical to what is playing out again this year. Here are some of the increases in list prices, which do not include rebates:

  • AbbVie: Humira, a blockbuster drug with $15 billion in sales in the first 9 months of 2018 — ⬆️ 6.2%
  • Allergan: Many of its brand-name drugs, including dry-eye medication Restasis — ⬆️ 9.5%
  • Biogen: Multiple sclerosis drug Tecfidera — ⬆️ 6%
  • Bristol-Myers Squibb: Eliquis, a drug that prevents blood clots and is on pace for $6 billion in sales in 2018 — ⬆️ 6%
  • Eli Lilly: Type 2 diabetes medication Jardiance — ⬆️ 6%
  • Hikma Pharmaceuticals: Injectable pain reliever morphine — ⬆️ 10%
  • Teva: Similar to Allergan, many of its products — ⬆️ 9%

Looking ahead: "Some companies chose to go forward early, but by the end of January, we expect the majority to raise," said Ronny Gal, a pharmaceutical industry analyst at Bernstein.

Go deeper: The drug pricing maze

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
14 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.

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