Axios

The Trump administration on Wednesday is launching an effort to reimagine the way clinical trials are designed, with a goal of drastically reducing the time and money it takes to develop new drugs.

Why it matters: The program, shared first with Axios, could provide a template for reconfiguring the drug development process and boosting U.S. competitiveness in the global biotech race.

A wave of new Trump administration tariffs on brand-name drugs took effect this week, and some in the biopharma world are worried.

Why it matters: The steep tariffs that took effect on Tuesday pose a threat to small and midsize biotech firms that outsource their manufacturing.

Eric Cantor, a former House Republican leader who is among the most seasoned navigators of official Washington, on Tuesday was named president and CEO of PhRMA, the voice of the pharmaceutical industry, effective Nov. 9.

Why it matters: Cantor, 63, becomes the public face of an industry that's at the forefront of American innovation in the AI age but will face rising scrutiny if, as expected, Democrats take the House in November's midterms.

Americans pay nearly 3x as much as patients in other wealthy countries for the same prescription drugs.

The impact: Nearly 40% of Americans report cutting pills, skipping doses or not filling prescriptions because of high prescription drug prices.

Smart ring maker Oura on Tuesday delayed an IPO that had been expected to raise up to $2.2 billion, citing "market conditions."

Why it matters: The IPO window is narrowing. This is the third official postponement this month, while others have informally delayed.

Health insurers on Tuesday will tell a "Make America Healthy Again" summit that they're partners in efforts to make patients healthier and health care more affordable, not the political boogeymen President Trump and others have made them out to be.

Why it matters: Health plans are responding to bipartisan anger over coverage costs by making inroads with a historically hostile crowd.