The FDA gave the OK last week for Pfizer's blood thinner Fragmin to be used in children — but Fragmin is not new, it's been on the market for adults since 1994.

Why it matters: This is another case of an older drug getting broader approval with limited evidence.

Between the lines: Fragmin is a relatively small medication for Pfizer, generating $293 million in sales in 2018, down from when sales were about $382 million in 2011. But getting an expanded approval will immediately create a return for Pfizer because the drug is still the same product — now with a bigger population to treat.

Go deeper: "Almost half of all new drug approvals in 2018 relied on one clinical trial," Zachary Brennan of RAPS Regulatory Focus reports.

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Uber to buy Postmates in $2.65 billion deal

Illustration: Sarah Grillo/Axios

Uber has agreed to acquire food delivery company Postmates for $2.65 billion in an all-stock deal, the companies announced Monday.

Why it matters: This is the latest merger for the food delivery space as the sector undergoes an ongoing market consolidation.

Analysts expect soaring stock market despite slashed earnings forecasts

Data: FactSet; Chart: Axios Visuals

Despite cutting expectations for companies' earnings by the most in history and revenue by the most since 2009, Wall Street analysts are getting increasingly bullish on the overall direction of the U.S. stock market.

What's happening: Equity analysts are expecting earnings in the second quarter to fall by 43.8% — the most since 2008's fourth quarter 69.1% decline.

Case growth outpacing testing in coronavirus hotspots

Data: The COVID Tracking Project. Note: Vermont and Hawaii were not included because they have fewer than 20 cases per day. Chart: Andrew Witherspoon/Axios

The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.

Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.