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Jakob Riis, president of the Danish drugmaker Novo Nordisk, posted an open letter on the company's website Wednesday, vowing he would not raise the list price of any medicine by more than a single-digit percentage annually, reports STAT News.

Global spending on prescription drugs is projected to reach nearly $1.5 trillion by 2021, according to a report from Quintiles IMS Holding. This figure, based on wholesale pricing, represents an almost $370 billion increase from the estimated drug spending for…

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