Jan 15, 2019

House Democrats begin investigating drug prices

Rep. Nancy Pelosi (D-Calif.) and Sen. Chuck Schumer (D-N.Y.). Photo: Tom Williams/CQ Roll Call via Getty Images

Democrats on the House Oversight Committee have kicked off an investigation into prescription drug prices, sending letters yesterday to 12 drug companies seeking information about the pricing of almost 20 specific products.

What's happening: The list includes some of the best-selling drugs in the world — Humira, Embrel and Revlimid — as well as insulin, whose staggering price hikes have stoked particular rage.

Between the lines: These companies had to know this was coming the second they saw last November's election results, and they're savvy political operators with access to the best lobbyists money can buy.

  • But over the next couple of months, President Trump will see coverage of congressional hearings on drug prices that, despite his demands, continued to rise and rise. How this will play out is unclear. But I think we're going to find out.

Go deeper: House Democrats are set to go for the jugular on health care

Go deeper

Why big banks are breaking up with some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase is the latest financial giant to unveil new climate commitments, and like its peers, it is hard to disentangle how much is motivated by pressure, conscience or making a virtue of necessity.

Why it matters: The move comes as grassroots and shareholder activists are targeting the financial sector's fossil energy finance, especially amid federal inaction on climate.

Trump acknowledges lists of disloyal government officials to oust

Photo: Mandel Ngan/AFP via Getty Images

President Trump on Monday acknowledged the existence of assembled lists of government officials that his administration plans to oust and replace with trusted pro-Trump people, which were first reported by Axios' Jonathan Swan.

What he's saying: “I don’t think it's a big problem. I don’t think it's very many people,” Trump said during a press conference in India, adding he wants “people who are good for the country, loyal to the country.”

Coronavirus only part of the story behind the Dow’s drop

Photo: Andrew Burton/Getty Images

As someone has certainly told you by now, the Dow fell by more than 1,000 points yesterday, its worst day in more than two years, erasing all of 2020's gains. Most news headlines assert that the stock market's momentum was finally broken by "coronavirus fears," but that's not the full story.

What's happening: The novel coronavirus has been infecting and killing scores of people for close to a month and, depending on the day, the market has sold off or risen to record highs.