Drugmakers have raised list prices by an average of 6.6% in the first few weeks of this year on cancer, diabetes and other prescription medicines, sticking with more moderate increases while lawmakers scrutinize pricing practices.
The price of oil is hovering around a 7-year high, over $87 a barrel, amid concerns over tight supply as well as geopolitical tensions in Eastern Europe and the Middle East.
Analysts say with an expectation that OPEC+ will keep the existing policy of gradual increase of production, oil prices will likely remain bullish this week.
Meanwhile, billionaire investor and Dallas Mavericks owner Mark Cuban has launched an online pharmacy for generic drugs that promises steep discounts over traditional distributors.
The Mark Cuban Cost Plus Drug Company announced the opening of its online pharmacy Wednesday. The pharmacy says it will bypass health care industry "middlemen" and help consumers avoid high drug prices by charging manufacturers' prices plus a flat 15% markup and pharmacist fee.