Darron Cummings / AP

Pharmaceutical giant Eli Lilly is cutting 3,500 jobs, or more than 8% of its entire workforce, to put more money toward developing new drugs and to "improve its cost structure," the company said Thursday. Most of the job cuts, expected to save $500 million, will come from early retirement buyouts.

  • Another major reason for the job cuts: Drugs losing patent protection. Cialis, Lilly's erectile dysfunction drug, which had $2.5 billion in worldwide sales last year, loses its patent in November. Patents on the diabetes drugs Humalog and Humulin have already expired, but they are biologic drugs without generic competitors.
  • Yes, but: Lilly had a 17% profit margin in the latest quarter. The company is not hurting for cash.

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Data: Axios/Ipsos poll; Note: ±3.3% margin of error; Chart: Axios Visuals

Large shares of women, seniors and independents now say they're less likely to trust President Trump for accurate information about COVID-19 since he caught it himself, according to the latest installment of the Axios/Ipsos Coronavirus Index.

The big picture: Week 28 of our national survey has most Americans rejecting ideas that Trump has floated around hydroxychloriquine as a virus treatment, how herd immunity works or any imminent availability of a vaccine.

NY Post story goes massive on social media despite crackdowns

Data: NewsWhip; Chart: Naema Ahmed/Axios

Facebook and Twitter's frantic attempts to stop the spread of the New York Post's Hunter Biden story didn't prevent the article from becoming the top story about the election on those platforms last week, according to data from NewsWhip.

Why it matters: The data shows that even swift, aggressive content suppression may not be swift or aggressive enough to keep down a story with as much White House backing and partisan fuel as this one.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump calls Fauci a "disaster" on campaign call.
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  3. States: California to independently review FDA-approved coronavirus vaccinesWisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b---ards" for continuing to cover pandemic.
  5. World: Ireland moving back into lockdown as cases surge — Argentina becomes 5th country to report 5 million infections