The Swiss headquarters of Novartis. Photo: Sebastien Bozon/AFP/Getty Images

Nearly 30 drugmakers have taken steps to raise the price of their drugs in January, Reuters reports.

The big picture: The industry had said it was halting price increases under pressure from the Trump administration.

For example: Novartis plans to raise prices on more than 100 indications of over 30 different drugs. These include a multiple sclerosis drug, an arthritis treatment and a leukemia treatment.

  • A spokesperson said that the company will be raising list prices on 14% of the drugs it sells in the U.S., with an average list price increase of 4.7%. But rebates and discounts will result in a 5% net price decrease across the company's U.S. portfolio.

Our thought bubble: This isn't surprising. At this point, no one should think that drug companies are going to voluntarily stop raising list prices.

Go deeper: The drug pricing maze

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The end of Hong Kong's political freedom is here

Illustration: Annelise Capossela/Axios

The end of Hong Kong's relatively free political system is no longer looming. It's here.

Why it matters: The Chinese Communist Party is already wielding the new national security law it forced upon Hong Kong just over a month ago.

  • And through the extraterritoriality enshrined in the new law, Beijing has signaled that its push against pro-democracy activism is going global.

First look: New Trump ad doubles down on radical left frame for Biden

Combination images of President Trump and Joe Biden. Photo: Scott Olson/Getty Images/Mark Makela/Getty Images

The Trump campaign launches a new ad Tuesday in five early-voting states that hits Joe Biden on taxes and immigration, redoubling a strategy to paint the Democratic nominee as a tool of the radical left.

Driving the news: "In His Own Words" will be a "high seven figure" spend running in Florida, Arizona, North Carolina, Georgia and Wisconsin, a senior campaign official tells Axios.

37 mins ago - Health

Axios-Ipsos poll: 1 in 2 has a personal connection to the virus

Data: Axios/Ipsos poll; Chart: Danielle Alberti/Axios

We've hit a tipping point in the pandemic: Half of Americans now know someone who's tested positive, according to this week's installment of the Axios-Ipsos Coronavirus Index.

Why it matters: In practical terms, this data shows it's everybody's problem now.