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Source: Company filings; Chart: Axios Visuals 

Three years ago, Gilead Sciences was generating record sales and profits on the back of its hepatitis C pills. Now, Gilead's medicines are playing second fiddle to a competitor, and the drug that started it all, Sovaldi, has been relegated to a footnote.

The big picture: Gilead's drugs were a major reason why pharmaceutical spending shot up in 2014 and 2015, as patients flocked to the high-priced pills that cure the disease for a vast majority of people. Sales have gone down considerably, due to competing drugs and restrictive insurance coverage, even though a large number of hepatitis C patients remain untreated.

Between the lines: AbbVie has been the leading hepatitis C drugmaker for 2 consecutive quarters, as its Mavyret medicine has outsold Gilead's options, led by Epclusa and Harvoni.

  • Gilead is still projected to collect roughly $3 billion in sales this year from its hepatitis C drugs, but that's a far cry from when it was getting almost $5 billion per quarter from hepatitis C drugs in 2015.
  • Merck remains far behind AbbVie and Gilead in the market, even though it cut the price of Zepatier by 60% last year.

What we're watching: Whether more state Medicaid programs follow Louisiana and adopt a subscription approach to purchasing hepatitis C medications.

Go deeper: Inmates with hepatitis C aren't getting the medicine.

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Ruth Bader Ginsburg will lie in state in Capitol's National Statuary Hall

Photo: Getty Images

House Speaker Nancy Pelosi announced Monday that the late Supreme Court Justice Ruth Bader Ginsburg will lie in state in the Capitol's National Statuary Hall on Friday.

The state of play: The Supreme Court also announced Monday that Ginsburg will lie in repose on the front steps of the building on Wednesday and Thursday, allowing the public to pay respects to the late justice outside.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Retail traders drove Snowflake and Unity Software's IPO surges

Illustration: Sarah Grillo/Axios

The story of last week's Snowflake and Unity Software IPOs had little to do with data warehousing or 3D game development, and lots to do with dizzying "pops" after pricing.

What happened: The Robinhood effect.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 31,103,347 — Total deaths: 961,435— Total recoveries: 21,281,441Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 6,813,984 — Total deaths: 199,525 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Health: CDC updates guidances to say coronavirus can be spread through the air Nursing homes are evicting unwanted patients.
  4. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
  5. Education: College students give failing grade on return to campus.
  6. Business: Unemployment concerns are growing.
  7. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.