The U.S. reported more than 1 million new COVID-19 cases Monday, representing a pandemic high. Around 98,000 Americans are currently hospitalized with the virus, an increase of 32% from a week ago. (CNBC Weekly)

Theranos founder Elizabeth Holmes was found guilty on four of 11 charges, including fraud and conspiracy counts. She was acquitted on four counts, with the jury deadlocking on the other three. (The Wall Street Journal)

Biogen paid $60 million for commercial and development rights to Ionis’ BIIB115, a preclinical spinal muscular atrophy (SMA) drug. In 2016, Biogen and Ionis won an accelerated approval for SMA drug Spinraza. (Endpoints News)

As critics claim that politicians only promote vaccination due to their industry ties, some policymakers have returned campaign cash from pharma companies. “It is possible that this may happen increasingly if polarization continues to grow,” said Pete Quist, deputy research director at OpenSecrets. (STAT)

The U.S. will buy an additional 10 million courses of Pfizer’s COVID-19 oral treatment Paxlovid. The government has already purchased 10 million courses for $5.29 billion. (Reuters)