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Photo: Education Images/UIG via Getty Images

As the threat of drug-resistant infections rises globally, small and large drug companies are giving up on antibiotics because they don't turn enough profit, Bloomberg reports.

Details: One particularly striking example is an antibiotic developed by Achaogen targeting a superbug that appears in intensive care units, carbapenem-resistant Enterobacteriaceae.

  • While the antibiotic was approved by the Food and Drug Administration in June, Achaogen filed for bankruptcy in April. The drug had made less than $1 million in sales in its first 6 months on the market.
  • Experts fear this story will repeat itself with other biotechs if something isn't done.

By the numbers: Only 5 of 16 antibiotics introduced between 2000 and 2015 made $100 million or more annually in U.S. sales.

  • Antibiotics bring in much less money than drugs for other types of diseases, like cancer.
  • And doctors explicitly try not to prescribe antibiotics unless they're needed.

The bottom line: While public health experts have ideas about how to fix the incentives around developing antibiotics, for now things aren't looking good.

Go deeper: Drug resistance could kill 10M people per year by 2050, experts say

Go deeper

Updated 10 mins ago - Economy & Business

Tax season nightmare ahead for understaffed IRS

Illustration: Shoshana Gordon/Axios

The IRS will start accepting 2021 tax returns in less than a week, and the filing delays and administrative headaches to come might eclipse last year — which was “one of the worst filing seasons," according to an independent advocacy agency within the IRS.

Why it matters: For taxpayers, especially with complex or paper filings, this means headaches, delayed refunds, and mistakes.

China builds its own movie empire

Expand chart
Data: Gower Street citing Comscore; Chart: Kavya Beheraj/Axios

China blocked all four of Disney's Marvel movies from being released in its theaters last year, a grim sign for U.S. film giants being squeezed out of the world's fastest-growing box office.

Why it matters: The Chinese Communist Party is using domestic films as a key conduit for mass messaging aimed at achieving political goals, leaving little room for foreign views.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.