Photo: Spencer Platt/Getty Images

Pfizer's $11.4 billion takeover of Array BioPharma highlights how eager industry titans are to commercialize cancer medications, making cancer the most in-demand pharmaceutical asset outside of gene therapy.

The state of play: Big Pharma wants to expand cancer lineups because cancer drugs command huge price tags that health insurers and society usually pay for uncritically. 

Where it stands:

  • Merck is acquiring Peloton Therapeutics for $1 billion. 
  • Eli Lilly is buying Loxo Oncology for $8 billion.
  • AstraZeneca is paying Daiichi Sankyo upwards of $9 billion for partial rights to an experimental cancer treatment.
  • Bristol-Myers Squibb is trying to complete a $74 billion takeover of Celgene.

And all of that is just this year's activity.

What we're watching: Array has 2 FDA-approved drugs on the market, Mektovi and Braftovi, and more in development. The drugs have high prices, and Pfizer is known for its routine price hikes — even in the face of political pressure.

  • Packages of 180 Mektovi 15 mg pills, 180 Braftovi 75 mg pills and 120 Braftovi 50 mg pills each had list prices of about $11,000 when they were approved last June. Array raised those prices to $11,500 in January, according to Elsevier's Gold Standard Drug Database.

Go deeper: ACA reduced racial disparities in cancer treatment access

Go deeper

Louisiana braces for 3rd hurricane in 2 months as Tropical Storm Zeta nears

Municipality workers clean the streets of garbage in Playa del Carmen, Mexico, on Tuesday that was left by Zeta, which struck the Yucatan Peninsula as a Category 1 Hurricane a day earlier — causing no major damage to infrastructure. Photo: Medios y Media/Getty Images

Tropical Storm Zeta is expected to strengthen back into a hurricane and bring dangerous storm surge conditions to parts of the northern Gulf Coast on Wednesday, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Federal Declaration of Emergency in a letter to President Trump on Tuesday, ahead of the storm's expected arrival south of New Orleans.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.
1 hour ago - Technology

Trump's campaign website hacked

A screenshot of the Trump campaign website after it was hacked.

The Trump campaign website briefly went down and its "About" page was modified after hackers attacked the site Tuesday evening.

The big picture: With just seven days before the election, the hackers emulated the FBI and declared on the "About" page that: "this was seized. the world has had enough of the fake-news spreaded [sic] daily by president donald j trump. it is time to allow the world to know truth." Two addresses linked to the cryptocurrency Monero appeared on the site. Trump campaign spokesperson Tim Murtaugh in a statement said no sensitive data had been exposed in the attack.

Go deeper: Twitter hack raises fears of an unstable election

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