Alexandra Wey / AP

Roche Holding AG, the Switzerland-based pharmaceutical company, came away with an 8% higher profit than last year, the equivalent to $9.7 billion, according to WSJ. And even though there will be cheaper alternatives to their cancer drugs available next year, the company plans to release a new line to keep their profits high.

Trump's putting pressure on drug companies to lower their prices, but Roche isn't worried for these reasons:

  • They already offer cheaper versions of their drugs, which has saved them from suffering as much as other pharmaceutical companies.
  • CEO Severin Schwan sees the company's drugs as "true innovation," because they are difficult to replicate or replace with other companies' drugs.
  • He says he already invests "over-proportionally" in the U.S., employing more than 25,000 people, and the U.S. benefits a lot from the industry. (Roche also makes almost half of its revenue in from the U.S.)

Why it matters: This is a good early indication of how the biggest international drug makers are reacting to Trump's latest comments on drug prices.

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Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 20,755,406 — Total deaths: 752,225— Total recoveries: 12,917,934Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 5,246,760 — Total deaths: 167,052 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Politics: House Democrats to investigate scientist leading "Operation Warp Speed" vaccine projectMcConnell announces Senate will not hold votes until Sept. 8 unless stimulus deal is reached.
  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.

Fauci's guidance on pre-vaccine coronavirus treatments

Illustration: Aïda Amer/Axios

Antibody drugs and various medicine cocktails against the coronavirus are progressing and may provide some relief before vaccines.

The big picture: Everyone wants to know how and when they can return to "normal" life, as vaccines are not expected to be ready for most Americans for at least a year. Two therapies are known to be helpful, and more could be announced by late September, NIAID Director Anthony Fauci tells Axios.