Pharmaceutical manufacturer Teva might lay off up to 10,000 people — more than 15% of its workforce — according to Bloomberg. The Israeli drug maker, which specializes largely in generics, is trying to pay back $35 billion in debt.
Why now? Teva has already sold off parts of its business, including its oncology division, and is now looking toward massive staff reductions as it tries to cut as much as $2 billion in costs. About half of those cuts will likely come from research and development, Bloomberg said.
Sen. Susan Collins laid out some demands before getting behind the Senate version of the GOP tax plan, but those might not be met after all that wrangling, setting up a potential pitfall for the tax plan's ultimate passage. In particular, she wanted two bills passed that would help stabilize the health insurance market.
The potential hiccups in Collins’ plan: Majority Leader Mitch McConnell has only publicly said he is “supporting passage” of them, which is no guarantee, and House Speaker Paul Ryan has been mum on whether he would tack on the bills Collins wants into spending agreements, per Politico.
At the end of last week, with 13 days left to go in open enrollment, roughly 3.6 million people had signed up for coverage through HealthCare.gov. About 5.6 million more would need to sign up by Dec. 15 to match last year's enrollment totals. That is almost certainly not going to happen.
Quick take: Of course, Trump's cuts to enrollment outreach are also a major factor here.
Note: Data includes partial weeks. The 2018 open enrollment window is Nov. 1 to Dec. 15, 2017. The 2017 window was Nov. 1, 2016 to Jan. 31, 2017; Data: Artificial Intelligence Index; Chart: Chris Canipe / Axios
The nation's largest not-for-profit hospital systems reaped more than $21 billion last year from their Wall Street investments, mergers and other investment options, according to an Axios analysis of financial documents.
Why it matters: Hospitals say they're having trouble staying afloat because insurance programs, namely Medicare and Medicaid, aren't paying them enough. But while their margins on patient care are slim, they've more than made up for it on Wall Street.