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A handful of big drug makers are canceling or reducing planned price increases in the U.S., following a new California drug pricing transparency law and continued political pressure over pharmaceutical costs, Bloomberg News reports. The law requires drug makers to give insurers, governments, and purchasers advance notice of large price hikes. In the past three weeks, Novartis (NVS), Gilead Sciences (GILD), Roche (RHHBY), and Novo Nordisk (NVO) sent notices to California health plans rescinding or reducing previously announced price hikes on at least 10 drugs.

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