1. Former investors in Sprout Pharmaceuticals filed a lawsuit against Valeant, saying that the Canadian drugmaker overcharged for female libido pill Addyi and failed to market the drug. Valeant acquired Sprout last year for $1 billion. (Bloomberg)

2. The FDA raised concern about the safety of Cempra’s experimental drug solithromycin to treat community-acquired pneumonia, noting that it may prompt a rise in liver enzymes. An advisory panel will convene on Friday to discuss whether the drug should be approved. (Reuters)

3. The National Institute for Health and Care Excellence gave the UK’s National Institute for Health the green light to prescribe eribulin to breast cancer patients. New evidence showed that women with later-stage breast cancer could live three months longer when taking the drug. (The Guardian)

4. Pfizer announced that its pneumococcal disease vaccine Prevenar 13 has received approval to market in China for infants and toddlers. Pfizer’s vaccine business was forced to shut down in China last year after a license for an earlier version of the drug was not renewed. (Fortune)

5. Valeant may sell its eye-surgery equipment business, which is acquired from Bausch & Lomb in 2013, for about $2.5 billion. The deal would help the drugmaker cut its debt. Valeant also announced that it is in talks to sell  its stomach-drug business Salix. (WSJ)