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Illustration: Eniola Odetunde/Axios

Pharma didn't get what it wanted on trade, but it's still doing just fine.

The big picture: In this political climate, with this much scrutiny on drug prices, preserving the status quo is an enormous victory for this incredibly powerful industry. And though it failed to win a new victory on trade, the status quo is perfectly intact.

Driving the news: Democrats and the Trump administration have agreed to a new trade pact among the U.S., Mexico and Canada — without protections for brand-name biologic drugs.

  • At the same time, House Speaker Nancy Pelosi was able to ward off a rebellion from the left and strike a deal that will likely ensure the passage of her drug-pricing bill, Politico reports.

By the numbers: Enhanced Medicare price negotiation under Pelosi's bill would save the federal government about $456 billion over a decade, the Congressional Budget Office said yesterday.

  • The bill would plow most of that money back into new Medicare benefits.
  • CBO said the bill would likely result in about 8 fewer drugs being developed over the next decade, and roughly 30 drugs in the decade after that.

Yes, but: A House vote is probably as far as this bill is going. And its loss in the trade deal was a failure to win something new — not a loss of something that exists.

The bottom line: It's increasingly likely that pharma will be off the hook until 2021 — and that's an enormous victory for an industry that's been criticized from all sides.

Go deeper:

Go deeper

Woman who allegedly stole laptop from Pelosi's office to sell to Russia is arrested

Photo: FBI

A woman accused of breaching the Capitol and planning to sell to Russia a laptop or hard drive she allegedly stole from Speaker Nancy Pelosi's office was arrested in Pennsylvania's Middle District Monday, the Department of Justice said.

Driving the news: Riley June Williams, 22, is charged with illegally entering the Capitol as well as violent entry and disorderly conduct. She has not been charged over the laptop allegation and the case remains under investigation, per the DOJ.

Biden will reverse Trump's attempt to lift COVID-related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.

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