Mel Evans / AP

Johnson & Johnson is acquiring Europe's biggest biotech company, Actelion Pharmaceuticals, for $30 billion, per the WSJ. The deal will give J&J enormous access to the Swiss firm's portfolio of rare-disease treatments, which should help the company beat out competition from Pfizer, who recently launched an autoimmune therapy drug comparable to J&J's top-selling Remicade.

What's next: Actelion will spin off its operations into a separate company, R&D NewCo. J&J will hold 16% of the shares of the new company to start, and may acquire another 16% at a later date.

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Dave Lawler, author of World
30 mins ago - World

A hinge moment for America's role in the world

Photo illustration: Aïda Amer/Axios. Getty Images photo: Saul Loeb/AFP

The world may be living through the last gasps of America First — or just getting a taste of what's to come.

Why it matters: President Trump's message at this week's virtual UN General Assembly was short and relatively simple: global institutions like the World Health Organization are weak and beholden to China; international agreements like the Iran deal or Paris climate accord are "one-sided"; and the U.S. has accomplished more by going its own way.

New York daily coronavirus cases top 1,000 for first time since June

Photo: Chip Somodevilla/Getty Images

New York on Friday reported more than 1,000 new coronavirus cases for the first since June.

Why it matters: The New York City metropolitan area was seen as the epicenter of the COVID-19 pandemic throughout the spring. But strict social distancing and mask mandates helped quell the virus' spread, allowing the state to gradually reopen.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 32,647,382 — Total deaths: 990,473 — Total recoveries: 22,527,593Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 7,053,171 — Total deaths: 204,093 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.