Good morning. Elizabeth Cooney here in Boston, filling in for Ed Silverman while he’s reporting from the J.P. Morgan Healthcare Conference in San Francisco. You can see STAT’s team coverage of the gathering in the Readout @ JPM. Here’s what we’re watching in biopharma today:

The costs of oral and injectable brand-name, outpatient drugs increased annually between 2008 and 2016 by 9 percent and 15 percent, respectively, and the price hikes were largely driven by existing drugs, such as insulin, according to a new study described by STAT. When excluding new drugs — those that became available within three previous calendar years — annual costs rose by 8 percent and 16 percent for oral and injectable medicines. This was five to eight times the general rate of inflation in the same time period.

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