1. The FDA declined to expand approval for Bristol-Myers Squibb’s cancer treatment Opdivo to treat another type of advanced skin cancer. The agency asked BMS for more data treating patients with a type of the BRAF mutation—known as BRAF V600 mutation positive metastatic melanoma. Opdivo is currently approved for use in patients with BRAF V600 wild-type melanoma. (Reuters)

2. Novartis is reportedly weighing the sale of its contact lens care portfolio. The move is expected to help improve revenue growth for its subsidiary Alcon. One analyst estimated the sale could bring in as much as $1.6 billion. (Bloomberg Business)

3. Pfizer’s Lyrica failed to show it can treat traumatic neuropathic pain better than placebo in a Phase-III clinical trial. Lyrica is currently approved to treat nerve pain, which can be caused by diabetes, shingles or other causes. (WSJ)

4. Sources told Reuters that Sanofi is preparing to sell its animal health unit, Merial, which has been appraised at $12.7 billion. Merial manufactures flea- and tick-repellent Frontline. Sanofi acquired Merial in 2009. (Reuters)

5. The prices of 19 brand-name dermatology drugs quintupled from 2009 to 2015, according to a study published in JAMA Dermatology. Among those 19, two Valeant-owned dermatology drugs, Targretin and Carac, had price increases of 1,700% over the last six years. (NYT)