🛬 Axios PM: Disaster averted

Plus: In-person Netflix | Wednesday, March 01, 2023

Open in app View in browser   Presented By Amazon   Axios PM By Mike Allen · Mar 01, 2023 Good Wednesday afternoon. Today's PM — edited by Kate Nocera — is 596 words, a 2-min. read. Thanks to Sheryl Miller for the copy edit. 📨 Please join Axios' Courtenay Brown, Sophia Cai and Eleanor Hawkins on International Women's Day — Wednesday, March 8 — at 8 a.m. ET in D.C. for a News Shapers event focused on gender equality. Guests include Sen. Mazie K. Hirono (D-Hawaii), German ambassador to the U.S. Emily Haber and "PBS NewsHour" co-host Amna Nawaz. Register Sign up here.     1 big thing: New insulin price pressure Illustration: Aïda Amer/Axios Lawmakers are hopeful that Eli Lilly's move today to slash prices on its most-prescribed insulin — and cap out-of-pocket costs — will put pressure on other pharmaceutical companies to follow suit. "At a time when Eli Lilly made over $7 billion in profits last year, public pressure forced them to reduce the price of insulin by 70%," tweeted Sen. Bernie Sanders (I-Vt.). "Sanofi and Novo Nordisk must do the same." President Biden said it's "time for other manufacturers to follow." The Inflation Reduction Act, passed by Democrats last year, limited monthly out-of-pocket insulin costs to $35 for Medicare beneficiaries starting this year — but didn't extend the cap to the private market. In his State of the Union, Biden called on pharma companies to lower costs on their own. A pressure campaign model could be a way forward to drive medication costs down, some experts say. "The real opportunity here is to build on this momentum and look at the top 10 prescription drugs that cost Medicare the most," said Nick Fabrizio, professor of health policy at Cornell. "The hope is that this becomes a follow-the-leader strategy, which would ultimately benefit all Americans." Eli Lilly CEO David Ricks insisted at a news conference today that the company is dropping insulin prices because "it's time and it's the right thing to do," Axios' James Briggs reports from Indianapolis. Ricks brushed off questions about the broader impacts of the move, including financial implications to the company, telling a reporter: "This isn't an investor conference." Go deeper.     2. 🛫 More plane near-misses Data: FAA. Chart: Erin Davis/Axios Visuals Aviation officials are investigating two more alarming flight near-disasters just two weeks after the FAA announced a "safety call to action." On Monday, a business jet took off without clearance at Boston Logan International Airport, forcing an incoming JetBlue flight to go around. (In a go-around, pilots add power, climb back up and set up for another landing attempt.) Last week, at Hollywood Burbank Airport near L.A., a Mesa Airlines regional jet went around after a SkyWest flight was cleared for takeoff. The Mesa aircraft was only about a mile from the runway. The number of serious runway incidents has been trending down over the past two decades, but it's risen in more recent years. Share this story.     A message from Amazon Free technical training helped Francisco earn 4x more     Francisco started at Amazon in a fulfillment center. After joining the Amazon Mechatronics and Robotics Apprenticeship he earns 4x more as a trained technician. More info: Amazon has committed $1.2 billion to upskilling, so employees can learn and earn more. Read about Amazon career growth.     3. Catch me up A crane, firefighters and rescuers work today after a collision that killed dozens of passengers near Larissa, Greece. Photo: Vaggelis Kousioras/AP At least 43 people were killed and 85 others injured in northern Greece after a passenger train collided with an oncoming freight train. Get the latest. 📱TikTok will prompt teens under 18 years old to enter a passcode to continue watching beyond 60 minutes. Go deeper.     4. 🎭 Netflix, live! Image: Courtesy NFLX A stage play based on the popular Netflix series "Stranger Things" will premiere later this year in London, the company announced today. "Stranger Things: The First Shadow" takes place two decades before the show's first episode and features popular characters from the show. The play is Netflix's first live production — and comes as the streaming giant launches more in-person events like "Stranger Things: The Experience." Increased competition has forced Netflix to reimagine its business plan and invest in new growth areas — gaming, original films and advertising, per Axios Media Trends author Sara Fischer.     A message from Amazon His career "took off" in his 50s     In his 50s, Frank lost his job — "almost lost everything we had," he said. "I could have given up, but Amazon took a chance." Now, he's a senior operations manager at Amazon Air Hub. What you need to know: Amazon supports career growth for all employees with free training and prepaid tuition. Read more.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: