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Expand chart
Data: CVS Health; Table: Axios Visuals

The gene therapy pipeline contains several drugs that are likely to cost the health care system billions of dollars in the near future, according to an a new CVS white paper.

The big picture: Drugmakers are already having to come up with creative ways to get paid for high-cost drugs, the Wall Street Journal reported yesterday, and that's before these new gene therapies hit the market.

Why it matters: These therapies will provide medical miracles to patients who have long gone without cures for debilitating diseases. Some may even save money in the long run, compared with the cost of lifelong treatment.

  • But our health care system isn't built to absorb these kinds of upfront costs.
  • The impact will be especially potent for small employers, which could be bankrupted by one sick employee who receives one of these therapies.

What's next: CVS is developing an additional insurance product that it says will help small employers guard against this, among other solutions it outlined in the white paper.

The bottom line: Policymakers are stuck on how to deal with existing prescription drug prices, but the private market is beginning to at least grapple with how it will handle the cost of future drugs.

Go deeper: Gene therapies' accessibility problem

Go deeper

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest.

Why it matters: The atmospheric river, packing large amounts of moisture, was causing Northern California to whiplash from drought to flood, as it slowly moved south overnight. It's triggered widespread power outages, flooding and mudslides.

In photos: Drought-ravaged California lashed by major storm

Workers try to divert water into drains as rain pours down on Oct. 24 in Marin City, California. Photo: Justin Sullivan/Getty Images

A major storm system was pummeling Northern California and parts of the Pacific Northwest with heavy rains overnight.

The big picture: "Atmospheric river" storms, associated with a record-strong "bomb cyclone" offshore from the Pacific Northwest, have brought flooding and mudslides to parts of California that were razed by recent wildfires and in severe drought. It's also caused widespread power outages in California and Washington state.

4 hours ago - World

Sudan's military places civilian prime minister under house arrest

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were also detained Monday in what appears to be a military coup in the country, per local reports.

Why it matters: The arrests of the civilian faction in the Sudanese government came a day after U.S. envoy Jeffrey Feltman met with the head of the military faction of the Sudanese government General Abdul Fattah al-Burhan and warned him against staging a coup.