President Trump late Friday night said the administration would send just under $100 to more than 20 million senior citizens to help pay for Medicare benefits.
Why it matters: A month before the midterm, the president is adding another roughly $2 billion to a recent spate of promised refunds, rebates and dividends for various Americans.
Novartis on Friday signed a drug licensing deal with China's Abogen Biosciences that could be worth up to $7.8 billion.
Why it matters: This is the latest example of a Western pharma giant partnering with a Chinese biotech — a trend that could presage China rivaling America as the world's top drugmaker.
President Trump's signature threat to force drugmakers into offering Medicare the lowest prices in the world has ended in a whimper, with a regulation that's expected to impact just a handful of manufacturers.
Yes, but: The legal ramifications of the pricing experiment could be far-reaching.
