The company that developed the most expensive drug in the world knew about problems with its clinical data, but withheld that information from the FDA until after the drug had been approved, the agency said Tuesday. Nevertheless, the FDA said it's confident that the drug, Zolgensma, is still safe.

Between the lines: Zolgensma is a gene replacement therapy to treat spinal muscular atrophy in children younger than 2, manufactured by Novartis. It was approved in May and carries a $2.1 million price tag. In disclosing the faulty data submission, the FDA said it "will use its full authorities to take action, if appropriate, which may include civil or criminal penalties."

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BP's in the red, slashing its dividend and vowing a greener future

Photo: Ben Stansall/AFP via Getty Images

BP posted a $6.7 billion second-quarter loss and cut its dividend in half Tuesday while unveiling accelerated steps to transition its portfolio toward low-carbon sources.

Why it matters: The announcement adds new targets and details to its February vow to become a "net-zero" emissions company by mid-century.

Women-focused non-profit newsrooms surge forward in 2020

Illustration: Eniola Odetunde/Axios

Women are pushing back against the gender imbalance in media by launching their own news nonprofits and focusing on topics many traditional news companies have long ignored.

Why it matters: "The news business is already gendered," says Emily Ramshaw, co-founder and CEO of The 19th*, a new nonprofit, nonpartisan newsroom reporting at the intersection of women, politics and policy.

The U.S. is now playing by China's internet rules

Illustration: Aïda Amer/Axios

President Trump's crackdown on TikTok suggests that the U.S. government is starting to see the internet more like China does — as a network that countries can and should control within their borders.

The big picture: Today's global internet has split into three zones, according to many observers: The EU's privacy-focused network; China's government-dominated network; and the U.S.-led network dominated by a handful of American companies. TikTok's fate suggests China's model has U.S. fans as well.