Sandoz is the generic arm of Novartis. Photo: Sebastian Kahnert/picture alliance via Getty Images

Sandoz, the generic drug unit of pharmaceutical giant Novartis, has admitted that it colluded with other companies to inflate the prices of various generic drugs and is paying $195 million to resolve charges, the Department of Justice said Monday.

Why it matters: This is the largest criminal penalty in a U.S. antitrust case, and Sandoz is now the third company to admit guilt within the wide-ranging scheme to fix prices of generic drugs. Sandoz's admission implicates more generic drugmakers.

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More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.

1 hour ago - Sports

Alumni fight to save college sports

Data: Mat Talk Online; Chart: Andrew Witherspoon/Axios

242 collegiate athletic programs have been cut amid the pandemic, altering the careers and lives of thousands of student-athletes.

Yes, but: Some passionate alumni groups have opted to fight, banding together in hopes of saving the programs they helped build and continue to love.

2 hours ago - World

The U.S.-China trade war quietly escalates

Photo Illustration: Sarah Grillo/Axios. Photos: Alex Wong/Getty Images and Lintao Zhang/Getty Images

Lost amid headlines about the coronavirus pandemic and the seemingly unstoppable stock market rally, has been the monthslong escalation of tensions in the U.S.-China trade war —  and it's likely here to stay.

Why it matters: The tariffs continue to impress a sizable tax on U.S. companies and consumers, adding additional costs and red tape for small businesses, farmers, manufacturers and households trying to stay afloat amid the pandemic.