1. An FDA advisory panel voted 7-3 Monday that a clinical trial of Sarepta Therapeutics’ experimental Duchenne muscular dystrophy drug, eteplirsen, did not demonstrate that it was effective. Researchers said the trial was not controlled well enough to show that drug was responsible for patient-claimed benefits. (Reuters)

2. Bill Ackman, one of Valeant’s largest shareholders and the head of Pershing Square Capital Management, will testify before the Senate Special Committee on Aging regarding the drugmaker’s pricing practices. Outgoing Valeant CEO J. Michael Pearson testified before the same committee last week. (USA Today)

3. Daiichi Sankyo will establish new headquarters in Basking Ridge, New Jersey. The company last year laid off about 1,000 employees, many of whom were based at its previous headquarters in Parsippany, New Jersey.

4. Proton pump inhibitors like AstraZeneca’s Nexium have been linked to a heightened risk of kidney disease, according to a study conducted in the U.S. New users of proton pump inhibitors were 30% more likely to develop chronic kidney disease over the course of five years. (Reuters)

5. Smoking-cessation medicine Chantix does not cause suicidal tendencies, according to a study conducted by Pfizer and GlaxoSmithKline. Chantix was slapped with a black box warning seven years ago. The warning acknowledged risks of suicidal behavior. (AP)