1. Valeant Pharmaceuticals International will not sell its gastrointestinal drugs business, which includes Xifaxan, acquired in its 2015 buyout of Salix Pharmaceuticals. Valeant was reportedly in talks to sell the business unit to Takeda Pharmaceuticals. (Bloomberg)

2. Allergan CEO Brent Saunders said that Donald Trump’s election and the potential repeal of the Affordable Care Act will not change his company’s focus on the issue of prescription drug prices. “Our industry must not pretend that everything is fine because the cost of medicines may not be priority number one for the Trump Administration,” he wrote on his company website’s blog. (Allergan)

3. Speaking at the recent American Heart Association conference, heart doctors and researchers expressed their support for Dr. Robert Califf to remain as the FDA’s commissioner.  (Reuters)

4. AstraZeneca signed a deal worth up to $1 billion with biotech Bicycle Therapeutics. The biotech specializes in developing injectable antibody drugs. (Reuters)

5. Republican lawmakers may face an uphill climb in passing a replacement for Obamacare. Despite having full control of both the House and the Senate, Republicans will need support from eight Democrat senators to clear the chamber’s procedural hurdles. (WSJ