Drug companies continue to raise list prices. Photo: Joe Raedle / Getty Images

A handful of drug companies rang in 2018 with price hikes that easily surpass inflation but stay conspicuously below double digits. Investment banks Jefferies and Cowen highlighted some of the big ones (listed below the fold).

Get smart: Our reporting might sound like a broken record, but it's the truth: Despite public outcry, the pharmaceutical industry has no incentive to change its drug pricing tactics.

Some of the drug companies raising prices:

  • AbbVie's blockbuster Humira: 9.7%
  • Amgen's arthritis medicine Enbrel: 9.7%
  • Allergan's dry eye drug Restasis: 9.5%
  • Insys Therapeutics' opioid spray Subsys: 9.5%
  • Biogen's multiple sclerosis drug Tecfidera: 8%

But wait, there's more: Cowen conducted a survey of large drug purchasers, and most said drug prices will continue to rise. More than three-quarters of respondents also said there's almost no chance U.S. drug price controls will occur in the next three years.

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.