They are also fighting new drug price cutting rules from the Trump administration, which would reduce the industry's profitability. More price hikes are expected to be announced on Friday and in early January. Drug price increases have slowed substantially since 2015, both in terms of the size of the hikes and the number of drugs affected. None of the company's price increases will be above the expected growth rate of US health spending of 5.1 percent, she said. President-elect Biden has also vowed to reduce drug costs and to allow Medicare, a US government health insurance program, to negotiate drug prices.

Source: bd News24 December 31, 2020 20:15 UTC