Jan 25, 2017

Why drug and medical device companies are nervous

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The Wall Street Journal's Jonathan Rockoff has a smart story about the angst of the drug and medical device industries. They're nervous about what the Trump administration could mean for them and are trying to develop relationships with the president's team, Rockoff reports — but they're not really sure who to talk to. Two main reasons for their nerves:

  • They don't want to lose insured, paying customers if Obamacare is repealed.
  • President Trump isn't backing off of his tough talk about negotiating prescription drug prices.

Yes, but: It's not all gloomy rainclouds for the pharmaceutical industry, as Steve Brill has pointed out this week — because the Trump administration is probably going to get rid of the restrictions on marketing drugs for off-label uses, a goal the industry has been trying to achieve for years.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 6,789,313 — Total deaths: 396,388 — Total recoveries — 2,784,210Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 1,906,060 — Total deaths: 109,305 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Education: Students and teachers flunked remote learning.
  4. Public health: Fauci: "Very concerned" about spread of coronavirus amid George Floyd protests — Cities offer free coronavirus testing for protesters.
  5. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy the software-as-a-service model as use of robots accelerates.
  6. Jobs: Better-than-expected jobs report boosts stock market.

Buffalo police officers arrested after shoving 75-year-old protester

Photo: Mike Desmond/WBFO via AP

Two Buffalo police officers were charged with assault on Saturday after a video emerged of them shoving a 75-year-old protester while clearing a demonstration in the wake of George Floyd's killing, AP reports, citing prosecutors.

The state of play: Both officers pleaded not guilty to second-degree assault, and were released without bail. After the law enforcement officers were initially suspended without pay on Friday, all 57 officers on the Buffalo Police Department's Emergency Response Team resigned in a show of support for their fellow officers' suspensions.

Humility for forecasters: Jobs shocker is record miss

President Trump speaking in the Rose Garden following the release of the jobs report on May 5, 2020. Photo: Jonathan Newton/The Washington Post via Getty Images

Economists were projecting that May's jobs figures would show a loss of 8 million jobs and an unemployment rate approaching 20% — Great Depression territory.

The state of play: Instead, a record 2.5 million workers were added, and unemployment fell to 13.3% from April's post-World War II high of 14.7%.