Sep 20, 2017

Pfizer sues Johnson & Johnson, says it blocked new drug

Pfizer is taking Johnson & Johnson to court. Photo: Richard Drew / AP

Pfizer is suing Johnson & Johnson, alleging Johnson & Johnson crafted exclusive contracts with health insurers and health care providers to keep its autoimmune drug Remicade as a sole treatment option even though Pfizer came out with a cheaper biosimilar version, called Inflectra, this past November. The lawsuit says "consumers suffer in the form of artificially inflated prices."

Why it matters: When blockbuster drugs like Remicade lose patent protection or face competition from cheaper alternatives, drug companies face the prospect of losing billions of dollars in sales. This lawsuit between two of the largest U.S.-based pharmaceutical firms is yet another example of the extent companies will go to litigate or protect lucrative drugs.

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Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.