1. Aclaris Therapeutics received FDA approval for Eskata to treat seborrheic keratoses, a non-cancerous skin growth condition. It is the first FDA-approved topical medicine for the condition. (Reuters)

2. Teva Pharmaceutical Industries said it will cut 25% of its workforce (about 14,000 jobs), close its research and manufacturing centers, and suspend its dividend. The moves are part of a restructuring plan to reduce costs by $3 billion in two years. (NYT)

3. Novartis Oncology CEO Bruno Strigini is leaving the company and the pharmaceutical industry for personal reasons, the drugmaker said. He will depart in early 2018 and Novartis will announce a successor in “due time.” (Endpoints News)

4. Generic drugmaker Perrigo reportedly plans to bid for Merck KGaA’s consumer health business, competing with Nestle and the private equity owners of German drugmaker Stada. The consumer-health unit is worth $4.7 billion. (Reuters)

5. In a Phase-III trial, Merck’s Keytruda failed to prolong survival rates of patients with a certain type of gastric cancer or prevent the disease from worsening. (Endpoints News)