Jul 6, 2017

Drug company pulls powerful opioid off the market

Rich Pedroncelli / AP

Pharmaceutical company Endo International is removing Opana, a powerful painkiller, from the market. Endo's decision comes a month after Scott Gottlieb, commissioner of the Food and Drug Administration, pressured Endo to pull Opana off the market in light of the widespread opioid crisis that has led to record deaths.

The removal will cost Endo a one-time charge of $20 million, the company said Thursday. Opana brought in $159 million in sales for Endo last year.

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Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 75,465 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 6 hours ago - Health

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.