Alex Brandon / AP
Attorney General Jeff Sessions will hold a press conference at 4 p.m. The presser comes as Sessions receives mounting criticism for meeting with the Russian Ambassador to the U.S. during the presidential campaign. He said during confirmation hearings that he had "no contact with the Russians".
Donald Trump says he still has "total" confidence in Sessions.
The 10 highest-selling drugs in the U.S. last year gave away more than $23 billion in rebates to insurance intermediaries, but still netted almost $58 billion in sales.
The big picture: The U.S. drug pricing system is filled with confusing numbers, and many entities profit off the flow of drugs, but pharmaceutical companies retain a vast majority of the proceeds.
Illustration: Aïda Amer/Axios
A month after the Trump administration changed how hospital data is reported, the public release of this data "has slowed to a crawl," the Wall Street Journal reports.
The big picture: This is the latest example of how the world's wealthiest country just can't get it together.
The scene near the Royal Exchange and the Bank of England in the City of London, England. Photo: Tolga Akmen/AFP via Getty Images
The United Kingdom slumped into recession as its gross domestic product GDP shrank 20.4% compared with the first three months of the year, the Office of National Statistics (ONS) confirmed Wednesday.
Why it matters: Per an ONS statement, "It is clear that the U.K. is in the largest recession on record." The U.K. has faired worse than any other major European economy from coronavirus lockdowns, Bloomberg notes. And finance minister Rishi Sunak warns the situation is likely to worsen.