Feb 9, 2017

Drug companies don't like Pence's right-to-try push

Manuel Balce Ceneta / AP

Bloomberg reports that drug companies aren't so keen on Vice President Mike Pence's idea for a federal "right-to-try" law, which would allow dying patients to receive experimental drugs that have not yet been fully approved by the Food and Drug Administration.

Their reasoning: Right-to-try bypasses the FDA, which is a big worry for the pharmaceutical companies. Unapproved drugs may harm or even kill patients when their side effects haven't been widely tested. And if the treatment is still being researched, this might lead to the shutdown of more tightly-controlled clinical trials that could have allowed for wider adoption.

Why it matters: It's shaping up as another conflict between the Trump administration and the drug industry — and if the drug companies fight hard enough, getting it through Congress will be difficult.

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Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.

What top CEOs fear telling America about the coronavirus shutdown

Illustration: Eniola Odetunde/Axios

Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn't begin planning for a phased return to work as soon as May, corporate leaders tell Axios.

Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don't start urgent talks about ways groups of workers can return.

Health care workers vs. the coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: ANGELA WEISS/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.

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