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Photo: Tom Williams/CQ Roll Call via Getty Images

Drug prices are still climbing higher, despite President Trump’s promises of big and immediate discounts.

By the numbers: At the end of July, drugmakers had raised the price of brand-name products more than 4,400 times this year, compared with 46 price cuts, according to an Associated Press analysis. That works out to 96 increases for every reduction.

  • In the two months after Trump announced his administration's blueprint to lower drug prices, there were 16.5 price hikes for every price cut.
  • Both the median price hike and median price cut were smaller than usual during that period, suggesting the industry may be “self-policing” — but not enough to change the overall upward trajectory of drug prices.
  • “The rate of increases has slowed down, but prices haven’t decreased,” Stephen Schondelmeyer, a professor of pharmaceutical economics at the University of Minnesota, told AP.

Eternal caveat: Few patients pay the full sticker price for drugs. Discounts and rebates can hold insured patients’ costs flat even as list prices rise.

  • But sticker prices are still the starting point for those negotiations, so they’re an important part of the process — and uninsured patients do have to pay the whole thing.

Flashback: The illusion of lower drug prices.

Go deeper

Mike Allen, author of AM
11 mins ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
11 mins ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.

Ina Fried, author of Login
31 mins ago - Technology

Tech's race problem is all about power

Illustration: Eniola Odetunde/Axios

As problematic as the tech industry's diversity statistics are, activists say the focus on those numbers overlooks a more fundamental problem — one less about numbers than about power.

What they're saying: In tech, they argue, decision-making power remains largely concentrated in the hands of white men. The result is an industry whose products and working conditions belie the industry rhetoric about changing the world for the better.