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Multibillion-dollar lung cancer drug Rova-T may go bust

AbbVie spent billions of dollars to acquire a potential cancer drug known as Rova-T, but the drug is looking more and more like a bad investment, Business Insider reports.

Details: AbbVie has stopped enrolling new patients in a Phase 3 clinical trial for Rova-T, which an outside monitoring committee had recommended. The drug was intended to treat advanced lung cancer. But in the clinical trial, patients taking Rova-T were dying sooner than patients treated with standard chemotherapy, per BI.

Go deeper

Sara Fischer, author of Media Trends
1 hour ago - Politics & Policy

Journalism enters dangerous new era

Illustration: Brendan Lynch/Axios

The Capitol attack on Jan. 6 resulted in at least nine physical assaults against journalists and at least five arrests, per the U.S. Press Freedom Tracker's top editor.

Why it matters: President Trump's harsh rhetoric towards the press has empowered leaders abroad and locally in the U.S. to continue to attack press that they don't like.

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Ben Geman, author of Generate
2 hours ago - Politics & Policy

The beginning of the beginning for Biden's climate push

Illustration: Annelise Capossela/Axios

Joe Biden's inauguration and the days right after will bring a rat-tat-tat burst of climate policy moves, but keep this in mind amid the splashy pledges: pushing through most of his agenda will be a long, uncertain slog.

Why it matters: Biden's climate plan is far more expansive than anything contemplated under President Obama. But for all the immediate pledges, it will take years to see how far Biden gets.

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Dion Rabouin, author of Markets
3 hours ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.

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