There hasn't been much innovation in women's birth control since the pill came to market nearly 60 years ago — because drug companies don't stand to make much from it, Bloomberg reports.

Where it stands: Only 2% of drug companies' annual revenue from contraceptives goes back into research and development, according to the Gates Foundation.

  • That's about $100 million, or less than a sixth of what may be spent to bring one cancer drug to market.

How it works: “The pill is as cheap as chips,” Anna Glasier, honorary professor at the University of Edinburgh, told Bloomberg. “So everything has to be not much more expensive than that.”

Go deeper: Federal judge blocks Trump birth control rules in 13 states

Go deeper

Trump claims TikTok will be banned if not sold by Sept. 15

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

Updated 18 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 18,147,574 — Total deaths: 690,573 — Total recoveries — 10,753,815Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 4,687,828 — Total deaths: 155,062 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Public health: Former FDA chief says MLB outbreaks should be warning sign for schools.

Filing suggests Manhattan DA is investigating Trump for possible fraud

Photo: Brendan Smialowski/AFP

The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.

The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.