The FDA is taking a new swing at drug prices, announcing two new policies Tuesday that aim to boost competition from generic drugs.

  • If fewer than three generic versions of a particular drug are on the market, the FDA will "expedite" new approval requests.
  • It's also creating a new list of brand-name drugs that should be especially ripe for generic competition (products that have been around long enough to lose their temporary market protections), but don't have any. And it will also expedite the approval process for generic versions of those drugs.

Why it matters: The FDA has no direct authority over what pharmaceutical companies charge, but newly installed commissioner Scott Gottlieb has said he wants to leverage the power the agency does have — and the approval process for generics is one of its most powerful tools.

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2 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

2 hours ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.

July's jobs report could be an inflection point for the coronavirus recovery

Illustration: Sarah Grillo/Axios

Even if Friday's jobs report shows a big number, it is becoming clear hiring slowed and likely even reversed course in July and real-time indicators suggest the employment situation worsened into August.

Driving the news: Payroll processor ADP's monthly jobs report showed private companies added 167,000 jobs last month, well below the 1.2 million expected by economists and far below June's 4.8 million jobs added.