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. In all, about 150 drugmakers raised prices on 866 products through Jan. 20th. After taking double-digit increases several years ago, many drugmakers pledged to moderate price increases.
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.