Sen. Chuck Grassley. Photo: Win McNamee via Getty Images

Sen. Chuck Grassley (R-Ia.) will chair the Finance Committee next Congress, meaning that the position being vacated by pharma ally Sen. Orrin Hatch will be filled with someone much less defensive of the industry.

What we're hearing: "PhRMA is probably crying in a corner right now. Winter is coming," a senior GOP Senate aide told Axios. And a former GOP aide mused, "If the administration, Democrats in the House, and Grassley all want to go in a direction, does pharma have the resources to get Republicans to stand on the wall against this coming invasion?"

Yes, but: Majority Leader Mitch McConnell will still control what gets a vote on the floor. 

What we're watching: Grassley has supported mandatory price disclosures in direct-to-consumer ads and legal drug importation from Canada.

The big picture: “I would expect Sen. Grassley to take a more activist approach when it comes to drug pricing, which might be more in line with the president’s position on this," said Chris Campbell, a former Hatch aide who now is a chief strategist with Duff & Phelps.

  • “There certainly is a real risk to investors that are investing in the health care sector, specifically in drugs and biologics, that stocks might be (affected) by the ebb and flow of the debate over drug prices, and potentially by the compromise, if one’s found in Washington," Campbell added.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 32,471,119 — Total deaths: 987,593 — Total recoveries: 22,374,557Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 7,032,524 — Total deaths: 203,657 — Total recoveries: 2,727,335 — Total tests: 99,483,712Map.
  3. States: "We’re not closing anything going forward": Florida fully lifts COVID restaurant restrictions — Virginia Gov. Ralph Northam tests positive for coronavirus.
  4. Health: Young people accounted for 20% of cases this summer.
  5. Business: Coronavirus has made airports happier places The expiration of Pandemic Unemployment Assistance looms.
  6. Education: Where bringing students back to school is most risky.
Mike Allen, author of AM
4 hours ago - Politics & Policy

Biden pushes unity message in new TV wave

A fresh Joe Biden ad, "New Start," signals an effort by his campaign to make unity a central theme, underscoring a new passage in his stump speech that says he won't be a president just for Democrats but for all Americans.

What he's saying: The ad — which began Friday night, and is a follow-up to "Fresh Start" — draws from a Biden speech earlier in the week in Manitowoc, Wisconsin:

Trump prepares to announce Amy Coney Barrett as Supreme Court replacement

Judge Amy Coney Barrett. Photo: Matt Cashore/Notre Dame University via Reuters

President Trump is preparing to nominate federal appeals court Judge Amy Coney Barrett of Indiana, a favorite of both the social conservative base and Republican elected officials, to succeed Justice Ruth Bader Ginsburg, Republican sources tell Axios.

Why it matters: Barrett would push the already conservative court further and harder to the right, for decades to come, on the most important issues in American politics — from abortion to the limits of presidential power. If confirmed, she would give conservatives a 6-3 majority on the high court.