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Expand chart
Data: Company filings and Public Citizen; Table: Danielle Alberti/Axios

Americans are paying pharmaceutical companies more for the world's 20 blockbuster drugs than the rest of the world combined, according to an analysis of company financial filings by Public Citizen.

Why it matters: The U.S. is the pharmaceutical industry's gold mine, and the analysis shows how much the industry has at stake as it fights Democrats' plan to allow Medicare to negotiate drug prices and let employers piggyback off those lower prices.

By the numbers: The 20 highest-selling drugs generated $158 billion of global revenue in 2020.

  • U.S. sales alone represented 64% of that total, or $101 billion.
  • The revenue imbalance was bigger for certain drugs. For example, U.S. sales for Gilead's HIV drug Biktarvy ($6.1 billion) were more than five times greater than all international Biktarvy sales ($1.2 billion).

Between the lines: Americans don't consume drugs more than people in other countries. It boils down to higher prices.

Go deeper: Many companies profit off the flow of drugs, but pharmaceutical companies retain a vast majority of the money.

Go deeper

Existing home sales hit inflection point

Expand chart
Data: National Association of Realtors; Chart: Jacque Schrag/Axios

Homebuyers were busy this summer: They closed on 6.29 million properties in September on a seasonally adjusted annualized rate, up 7% from August, according to the National Association of Realtors.

Why it matters: Lower mortgage rates made purchasing an attractive option, despite higher sales prices.

Ben Geman, author of Generate
Oct 22, 2021 - Energy & Environment

The economic spillover from high energy prices

The 6 megawatt Stanton Solar Farm outside of Orlando, Florida. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

The World Bank and International Monetary Fund are out with fresh warnings about the energy commodity run-up, but both also see some relief ahead.

Driving the news: The IMF, in a post on Thursday, projects prices will moderate in the coming months, but also says, "uncertainty remains high and small demand shocks could trigger fresh price spikes."

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

FTX CEO predicts more U.S. crypto flight

Photo: "Axios on HBO"

FTX doesn't look much like a company valued at $25 billion. Its new headquarters, located in a sleepy part of The Bahamas, is so nondescript as to not even have a sign. But it does expect to soon have neighbors.

Driving the news: Founder and CEO Sam Bankman-Fried tells "Axios on HBO" to expect "more and more crypto flight from the states" if the U.S. doesn't soon create a regulatory regime for cryptocurrencies.