Novartis' deal for AAA was rumored in September. Photo: Rafiq Maqbool / AP

Pharmaceutical giant Novartis is acquiring Advanced Accelerator Applications, a company that makes cancer drugs with radioactive elements, for $3.9 billion. Bloomberg hinted that a deal was possible in September.

Why it matters: Drug companies want to build out their pipeline of cancer products, giving the disease's wide impact and the lucrative returns for drugs that extend patients' lives. Novartis' deal is another iteration, with the spin of focusing on a company that develops drug through unique technology.

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Updated 19 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 31,920, 652 — Total deaths: 977,311 — Total recoveries: 22,002,729Map.
  2. U.S.: Total confirmed cases as of 8 a.m ET: 6,935,414 — Total deaths: 201,920 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing — The coronavirus is surging again.
  4. Politics: Missouri Gov. Mike Parson tests positive for coronavirus — Poll says 51% of Republicans trust Trump on coronavirus more than the CDC.
  5. Technology: The tech solutions of 2020 may be sapping our resolve to beat the coronavirus
  6. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  7. World: Justin Trudeau says Canada's second wave has begun
  8. Future: America's halfway coronavirus response
Dion Rabouin, author of Markets
25 mins ago - Economy & Business

The stock market's not-enough tantrum

Illustration: Eniola Odetunde/Axios

The market looks like it may be throwing another tantrum, investors say. But the cause is different this time around.

What's happening: This selloff is beginning to look like the 2013 taper tantrum, which roiled markets as U.S. government yields rose in response to an expected reduction of the Fed's quantitative easing (QE) program.

31 mins ago - Sports

Checking in on college hoops

Illustration: Eniola Odetunde/Axios

No sport was impacted by the onset of COVID-19 more than college basketball, which saw the cancellation of March Madness. Now, we've come full circle, with details emerging about the upcoming campaign.

Where things stand: The season will begin a few weeks later than normal on Nov. 25, with the non-conference slate comprised mostly of multi-team events.

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