Good morning ... Today I learned that Copenhagen, the best city in the Western Hemisphere, also has the most expensive subway fares in the world. Check out this fascinating comparison from my Axios colleagues.
With more than a week to go in the second-quarter earnings season, the health care industry has already banked more profits than any other quarter in the past year, Axios’ Bob Herman reports.
The bottom line: Several companies have reported profits that exceed Wall Street estimates, and most firms have raised profit estimates for the rest of 2018.
By the numbers: As of Aug. 2, 85 publicly traded health care companies have amassed $47 billion of global profit on $545 billion of global revenue in the second quarter, according to company documents.
Prescription drugs could make up close to 15% of total health care spending, rather than the 10% that's often attributed to them, according to a new report published in Health Affairs.
Why it matters: Other estimates focused on pharmaceutical companies, but the new report takes into account drugs administered by doctors and the profits of third parties like pharmacies and pharmacy benefit managers.
Younger doctors aren't necessarily opposed to single-payer health care, and some fully support it. That could change the way doctors flex their muscle on one of the most contentious issues in American politics, Kaiser Health News and Vice report from an American Medical Association conference.
Why it matters: The AMA has long fought government intervention in health care. It opposed the creation of Medicare, and has formally opposed single-payer for years. But a group of young doctors recently pressured the organization into at least studying the issue again.
Between the lines: Young people in general are more amenable to socialism than their parents' generation, but changes in the health care industry are also influencing younger doctors, per KHN:
Hundreds of people are suing over possible side effects of the antidepressant Abilify, saying it brought on compulsive behavior.
STAT has a closer look at the scientific dispute and its human implications, focused on a woman who says the drug caused her to gamble compulsively, ultimately losing more than $150,000.
One vexing issue in these lawsuits is whether science can substantiate a link between Abilify and compulsive gambling, when those effects only occurred in a fraction of people who used the drug.