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The pharmaceutical industry stands at a crossroads as Election Day nears in the U.S. The election could ultimately have sweeping implications for the sector, or it could yield only modest changes.

While the presidential election could have a significant influence on the pharma sector, arguably more important is who gains control of Congress. A blue sweep that hands Biden the presidency and gives Democrats control over the Senate will likely expand the Affordable Care Act, but the degree of drug-pricing reform will depend on the strength of the Democratic majority.

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