Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

AbbVie doesn't foresee drug pricing regulation. Photo: Nam Y. Huh / AP

President Trump and left-leaning lawmakers have excoriated pharmaceutical companies for the rising prices of prescription drugs. But top executives of drug giant AbbVie, including CEO Richard Gonzalez, think the outrage is fading and won't lead to any large-scale changes, according to a meeting AbbVie held with pharmaceutical analysts from investment bank Leerink Partners.

Key quote, from the Leerink report: "AbbVie believes that the intensity of the drug pricing debates and political risks is waning, and ... the company now sees little risk of significant changes in drug price regulation in the U.S., at least for the foreseeable future."

The bottom line: Trump's attacks on the drug industry once again look empty. Lawmakers, the FDA and the drug industry have tossed around some ideas that tinker with drug competition, but anything involving price controls has been a nonstarter for nearly everyone in Congress.

But wait, there's more: AbbVie, which makes the top-selling drug Humira, had committed to limiting price increases to below 10% no more than once a year. But AbbVie executives told Leerink analysts they created that policy due to "the political landscape surrounding drug pricing," and that it could "revert to more than one price increase per year and to double-digit increases in 2018 and beyond."

Go deeper

Mike Allen, author of AM
1 hour ago - Politics & Policy

Biden and Putin's "red line" summit

Courtesy TIME

After a bitter blast from Russia's Vladimir Putin and tough talk from President Biden, both sides agree: Don't count on much from Wednesday's summit.

What they're saying: "We’re not expecting a big set of deliverables out of this meeting," a senior Biden administration official told reporters on Air Force One from Brussels to Geneva. "No breaking of bread."

Florida's business travel boost

Illustration: Brendan Lynch/Axios

As post-pandemic business travel comes back, experts say Florida's reopening policies should allow it to lock in a significant share of returning corporate events and meetings.

Why it matters: There's a lot of money to be made — with a lot of people itching to travel — after the sector lost $97 billion in spending last year, according to a new Tourism Economics analysis by the U.S. Travel Association.

Workers' great awakening is about more than unemployment benefits

Illustration: Sarah Grillo/Axios

Many politicians, pundits and business owners have said pandemic-era enhanced unemployment benefits are keeping would-be workers at home. But that's a much too simplistic explanation of today's employment situation.

The big picture: Many hard-hit sectors are rebounding faster than anecdotal evidence would suggest. And when jobs are hard to fill, a broader worker awakening over the past year is part of the reason.