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EXCLUSIVE-Drugmakers to hike prices for 2021 as pandemic, political pressure put revenues at risk

NEW YORK, Dec 31 (Reuters) - Drugmakers including Pfizer Inc , Sanofi SA, and GlaxoSmithKline Plc plan to raise U.S. prices on more than 300 drugs in the United States on Jan. 1, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.

The hikes come as drugmakers are reeling from effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. They are also fighting new drug price cutting rules from the Trump administration, which would reduce the industry’s profitability.

Reporting by Michael Erman, Editing by Nick Zieminski

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