1. Eli Lilly said it plans to spend $850 million in research laboratories and manufacturing sites in the U.S. this year, and that it might invest more in its U.S. operations if the Trump administration implements more favorable tax laws. (Reuters)

2. President Trump gave House Republicans an ultimatum: Either pass the American Health Care Act or accept the Affordable Care Act status quo. The GOP postponed an initial vote planned for Thursday. (NPR)

3. Pfizer and Merck KGaA received accelerated FDA approval for immunotherapy Bavencio to treat metastatic Merkel cell carcinoma, a rare skin cancer, in patients 12 years and older. (Reuters)

4. Mylan recalled more than 80,000 EpiPen auto-injectors in Australia, New Zealand, Japan, and Europe following reports that they failed to work in two emergency cases. (Stat)

5. GlaxoSmithKline and Regeneron Pharmaceuticals have joined forces with biomedical database UK Biobank to discover ties between genes and disease. Under the terms of the agreement, the drugmakers will be able to access to data and samples from about 500,000 anonymous patients. (PMLive)