The Centers for Medicare and Medicaid Services (CMS) found that U.S. spending on prescription drugs is expected to increase 6.3% annually until 2026, when it would hit $5.7 trillion. The spike was attributed to economic and demographic factors, like changes in projected income growth, higher prices for medical goods and services, and enrollment shifts from private health insurance to Medicare as the population ages. (Washington Post)

French pharmaceutical company Ipsen is expected to buy more drugs to fight cancer, rare diseases, and mobility impairment, following a strong year of growth in 2017 that’s expected to carry over through this year. The drugmaker has about $1.3 billion for asset purchases on hand. (Reuters)

Omnicom Group’s fourth-quarter revenue missed analysts’ estimates, but beat expectations on net income. The holding company reported $4.2 billion in revenue in the fourth quarter, up 1.6% organically from the prior year. (Nasdaq)

Shares of Teva Pharmaceutical surged 11% after Warren Buffett’s Berkshire Hathaway reported taking a $358 million stake. In 2016, the drugmaker acquired considerable debt increasing copycat medications, but Buffett bought into the company as it’s trying to turn itself around after a recent downturn in U.S. generic prices. (Fortune)

CureVac is preparing to develop mRNA-based vaccines for influenza and malaria infection thanks to two grants from the Bill and Melinda Gates Foundation. CureVac agreed to make its products affordable for people in the world’s poorest countries. (Endpoints)