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Roche buying Spark Therapeutics for $4.8 billion

Roche is betting on gene therapies. Photo: Fabrice Coffrini/AFP via Getty Images

Roche, the Swiss-based pharmaceutical conglomerate, is acquiring Spark Therapeutics in a $4.8 billion all-cash deal. The Wall Street Journal first reported the buyout.

Why it matters: Pharmaceutical companies see promise in gene therapies and are willing to pay a large premium for them, but the treatments also come with record-high price tags. Spark has an $850,000 gene therapy to treat a rare eye condition, and a separate product is in the works for hemophilia.

Go deeper

Sara Fischer, author of Media Trends
26 mins ago - Economy & Business

Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

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Courtenay Brown
31 mins ago - Economy & Business

Janet Yellen plays down debt, tax hike concerns in confirmation hearing

Treasury Secretary nominee Janet Yellen at an event in December. (Photo: Alex Wong via Getty Images)

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.

Go deeper (1 min. read)Arrow
Ursula Perano
48 mins ago - Politics & Policy

Trump gives farewell address: "We did what we came here to do"

Photo: Mandel Ngan/AFP via Getty Images

President Trump gave a farewell video address on Tuesday, saying that his administration "did what we came here to do — and so much more."

Why it matters, via Axios' Alayna Treene: The address is very different from the Trump we've seen in his final weeks as president — one who has refused to accept his loss, who peddled conspiracy theories that fueled the attack on the Capitol, and who is boycotting his successor's inauguration. 

Go deeper (1 min. read)Arrow

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