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TrumpRx
A screenshot of TrumpRx.gov taken on January 29, 2026. (Sherwood News)

When is TrumpRx launching?

Not on schedule, for one thing.

TrumpRx — the government’s drug pricing initiative, which is at the center of the tariff deals the administration has reached with drugmakers since September —  is still not operational, and it's unclear when it will be.

The White House has said TrumpRx.gov, which is supposed to connect patients with cheap prescription drugs directly from manufacturers, was coming January 2026. With two days left in January, the launch of the platform has been postponed, Endpoints News reported Thursday.

At a televised cabinet meeting on Thursday, Health Secretary Robert F. Kennedy Jr. didn’t commit to a timeline for the TrumpRx launch. “That’s going to be happening sometime probably in the next 10 days,” he said.

The White House did not immediately respond to a request for comment.

TrumpRx has been described as a website that will point patients to direct-to-consumer options from manufacturers. As the administration began threatening to put tariffs on pharmaceuticals, nearly every major drugmaker reached a deal with the administration, usually committing to sell some products through TrumpRx in exchange for immunity from the import taxes.

The program allows President Trump to put his stamp on a trend well underway in the industry

Over the past couple of years drugmakers have been increasingly selling some drugs directly to patients, which allows them to cut out middlemen and offer the drugs at a fraction of the price for patients paying in cash. This is a particularly popular model for weight loss drugs sold by Eli Lilly and Novo Nordisk

Some drugmakers, like Lilly, Novo, Pfizer and Amgen, already have direct-to-patient pharmacies in place where patients can get the drugs the companies committed to offering on TrumpRx Others, such as Sanofi, andGilead — do not. 

Merck and Sanofi did not respond to a request for comment sent earlier this week. A spokesperson for Gilead reiterated their intention to sell Epclusa via TrumpRx but did not offer further details. 

Diederik Stadig, an economist at European bank ING, said in a recent report that the cost-savings realized by TrumpRx should be modest. He estimated that excluding GLP-1s (which are already widely available cashpay channels) it would save $1.9 billion, compared to the $700 billion US pharmaceutical market.

“In short, these deals represent ongoing circumventions rather than structural reform of the complex way in which American consumers get their medication,” he wrote. “We therefore expect list prices in the US to keep increasing in the coming years.”

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Jon Keegan

FTC will appeal Meta antitrust case

Only a few months after successfully defending itself from an FTC antitrust lawsuit, Meta may be heading back to court. Today, the FTC announced that it would appeal the decision, reopening a yearslong suit.

The FTC called Meta’s acquisition of Instagram and WhatsApp an illegal monopoly. The judge in the case found that in the years since the suit was first brought, the competitive landscape had changed dramatically, with Meta facing fierce competition from TikTok.

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Netflix goes all-cash in bid for Warner Bros., boosting its odds

Netflix on Tuesday applied more pressure to Paramount Skydance in the ongoing bidding war for Warner Bros. Discovery, amending its offer to an all-cash proposal.

Netflix shares ticked up in premarket trading, while Paramount and Warner Bros. were down less than 1%.

The move, which was expected, does not increase the value of Netflix’s $82.7 billion offer for WBD. Netflix said shareholders will be able to vote on the deal in April.

In a Tuesday filing, Warner Bros. said that it values Discovery Global, the spin-off of its cable assets, at between $1.33 and $6.86 per share. Earlier this month, Paramount said it valued the cable TV business at $0 per share.

With Tuesday’s update, event contracts have swung even further in Netflix’s favor, with Paramount’s odds to end up in control of Warner Bros. falling to 14%. That’s below the odds for “none.”

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

The move, which was expected, does not increase the value of Netflix’s $82.7 billion offer for WBD. Netflix said shareholders will be able to vote on the deal in April.

In a Tuesday filing, Warner Bros. said that it values Discovery Global, the spin-off of its cable assets, at between $1.33 and $6.86 per share. Earlier this month, Paramount said it valued the cable TV business at $0 per share.

With Tuesday’s update, event contracts have swung even further in Netflix’s favor, with Paramount’s odds to end up in control of Warner Bros. falling to 14%. That’s below the odds for “none.”

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Paramount doesn’t improve its offer for Warner Bros., leaving its fate to a long-shot shareholder appeal

Paramount Skydance on Thursday reaffirmed its $30-per-share offer to buy Warner Bros. Discovery, again stating that it believes the offer to be superior to rival Netflix’s.

In a press release, Paramount said its last amendment to the offer — which included a $40.4 billion personal guarantee from Larry Ellison, the father of Paramount CEO David Ellison — “cured every issue raised by WBD.”

The problem: Warner Bros.’ board on Wednesday unanimously voted to reject that offer, its sixth rejection of a Paramount takeover and second rejection of this specific $30-per-share bid. Warner’s board stated that it believes Paramount’s offer to be inferior to Netflix’s due in part to an “extraordinary amount of debt financing” and lower effective termination fees should the deal not clear the regulatory process.

By not improving the bid, Paramount is effectively leaving the deal in the hands of Warner Bros.’ shareholders, who will have to weigh the bids and the multiple rejections. Event contracts show a moderate boost in Parmount’s odds to end up in control of WBD on Thursday morning, jumping to 31% as of 9:30 a.m. ET, up from 27% at 9:00 a.m. ET.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Warner Bros. Discovery’s board tells shareholders to turn down Paramount’s “inadequate” hostile bid

Warner Bros. Discovery has told shareholders to reject Paramount’s hostile takeover bid, with the company releasing a statement early Wednesday urging shareholders to take the Netflix offer on the table. WBD’s board of directors said the outcome of the Netflix deal is “extraordinary by any measure.”

Paramount’s offer, in contrast, was described in the letter as “illusory,” providing “inadequate value,” and likely to impose “numerous, significant risks and costs on WBD.” The board said Paramount has “misled WBD shareholders that its proposed transaction has a ‘full backstop’ from the Ellison family,” and the board also outlined that it doesn’t believe there is a “material difference in regulatory risk between the PSKY offer and the Netflix merger.”

WBD shares dipped in the minutes leading up to the market close on Tuesday after news leaked that its management was preparing to encourage shareholders to reject Paramounts bid, and shares of the HBO parent were down at $28.66, off 0.83% from yesterday’s close, as of 7:56 a.m. ET on Wednesday. Netflix was ticking higher, up around 1.7%, and Paramount Skydance was modestly in the red, down 1%.

Several outlets have reported that Jared Kushners firm would back out of the group that had been assembled to help finance the Paramount bid. Confirming this withdrawal, a spokesperson for the firm helmed by the president’s son-in-law told NBC News that “the dynamics ​of the investment have changed significantly ​since we initially became ​involved ​in October.”

Analysts this month have said that a renewed bidding war for Warner Bros. seems “inevitable” given the antitrust concerns surrounding Netflix’s potential acquisition. President Trump on Tuesday appeared to distance himself from speculation around his closeness to Paramount’s owners, posting on Truth Social, “If they are friends, I’d hate to see my enemies!”

Warner’s attempt to influence its shareholders could fuel a higher bid from Paramount in the coming weeks — shareholders currently have until January 8 to decide whether to accept the current offer.

Paramount’s offer, in contrast, was described in the letter as “illusory,” providing “inadequate value,” and likely to impose “numerous, significant risks and costs on WBD.” The board said Paramount has “misled WBD shareholders that its proposed transaction has a ‘full backstop’ from the Ellison family,” and the board also outlined that it doesn’t believe there is a “material difference in regulatory risk between the PSKY offer and the Netflix merger.”

WBD shares dipped in the minutes leading up to the market close on Tuesday after news leaked that its management was preparing to encourage shareholders to reject Paramounts bid, and shares of the HBO parent were down at $28.66, off 0.83% from yesterday’s close, as of 7:56 a.m. ET on Wednesday. Netflix was ticking higher, up around 1.7%, and Paramount Skydance was modestly in the red, down 1%.

Several outlets have reported that Jared Kushners firm would back out of the group that had been assembled to help finance the Paramount bid. Confirming this withdrawal, a spokesperson for the firm helmed by the president’s son-in-law told NBC News that “the dynamics ​of the investment have changed significantly ​since we initially became ​involved ​in October.”

Analysts this month have said that a renewed bidding war for Warner Bros. seems “inevitable” given the antitrust concerns surrounding Netflix’s potential acquisition. President Trump on Tuesday appeared to distance himself from speculation around his closeness to Paramount’s owners, posting on Truth Social, “If they are friends, I’d hate to see my enemies!”

Warner’s attempt to influence its shareholders could fuel a higher bid from Paramount in the coming weeks — shareholders currently have until January 8 to decide whether to accept the current offer.

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Jon Keegan

Senators open investigation into data centers’ effect on consumer utility bills

As Big Tech builds more and more massive data centers in small towns around the country, the public is starting to ask questions about whether they are to blame for rising utility bills.

Today Sens. Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Richard Blumenthal (D-CT) sent letters to the CEOs of some of the biggest builders of data centers: Meta, Microsoft, Amazon, Google, CoreWeave, Digital Realty, and Equinix.

The senators wrote:

“Utility companies have spent billions of dollars updating the electrical grid to accommodate the unprecedented energy demands of AI data centers and appear to recoup the costs by raising residential utility bills. Through these utility price increases, American families bankroll the electricity costs of trillion-dollar tech companies.”

Electricity prices in the US are indeed up, rising 6.2% since last year. A recent Bloomberg analysis found that ratepayers within 50 miles of data centers saw rates increase up to 276% over the past five years.

The companies have until January 12, 2026, to respond to the senators.

The senators wrote:

“Utility companies have spent billions of dollars updating the electrical grid to accommodate the unprecedented energy demands of AI data centers and appear to recoup the costs by raising residential utility bills. Through these utility price increases, American families bankroll the electricity costs of trillion-dollar tech companies.”

Electricity prices in the US are indeed up, rising 6.2% since last year. A recent Bloomberg analysis found that ratepayers within 50 miles of data centers saw rates increase up to 276% over the past five years.

The companies have until January 12, 2026, to respond to the senators.

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