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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

Dan Primack, author of Pro Rata
21 mins ago - Podcasts

Spotify CEO Daniel Ek does a podcast on the future of podcasts

Spotify on Wednesday reported significant ad revenue growth from its podcast business, as part of its quarterly earnings disclosure.

Take a listen: Company founder and CEO Daniel Ek appeared on the Axios Re:Cap podcast to discuss how the podcast business model is changing, why he's spending big on exclusive shows and his personal favorites in both podcasting and music.

Updated 1 hour ago - Politics & Policy

Bipartisan group reaches agreement on $1.2 trillion "hard" infrastructure bill

Sens. Mitt Romney (R-Utah) and Mark Warner (D-Va.) Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images.

After weeks of long nights and endless Zoom calls, a bipartisan group of senators finally reached a deal on "the major issues" in their $1.2 trillion "hard" infrastructure package, GOP senators involved in the talks announced Wednesday.

Why it matters: It could be days before the group finishes writing the bill, but the Senate can begin debating the legislation in earnest now that they have resolved the outstanding issues. The bill needs 60 votes to advance in the Senate.

After walkout, Activision Blizzard employees vow to keep fighting

Bing Guan/Bloomberg via Getty Images

Organizers of a Wednesday walkout at Activision Blizzard, the gaming company behind "Call of Duty" and "World of Warcraft," are saying the demonstration "is not a one-time event that our leaders can ignore.”

Why it matters: Within the video game industry, sweeping promises for change are often followed by a handful of half-measures that fail to solve the systematic problems that caused them.

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