Humira still won't have a U.S. biosimilar until 2023. Photo: JB Reed / Bloomberg via Getty Images

AbbVie said Thursday it reached a deal with biopharmaceutical firm Samsung Bioepis that prevents Samsung from selling its cheaper copy of AbbVie's blockbuster drug Humira in the U.S. until June 30, 2023. This settlement comes roughly six months after AbbVie inked a similar deal with Amgen.

Why it matters: These settlements guarantee AbbVie will have five more years of monopoly pricing in the U.S. for the top-selling drug in the world, even though biosimilar versions of Humira will be available in Europe this October. Humira has garnered huge profits, spurred in part by routine price hikes from AbbVie.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.