Biogen has withdrawn a marketing application in Europe for its controversial Alzheimer’s drug Aduhelm. The company failed to convince the European Medicines Agency of the drug’s benefits. (Reuters)

Paxlovid is poised to become one of the fastest-selling treatments of all time, according to an industry forecast. Pfizer’s COVID-19 pills are expected to generate revenue of almost $24 billion this year. (Bloomberg)

Dozens of NYC educators were placed on leave for allegedly using fake COVID vaccine cards. The United Federation of Teachers said it is considering legal action to get about 70 of its members back on the payroll. (The New York Times)

The blockbuster Astellas/Pfizer prostate cancer drug Xtandi has found itself at the center of a rights controversy. Questions remain about whether federal agencies that fund early pharmaceutical research can use a 42-year-old law to exercise “march-in” rights to get a drug made for a lower price. (San Francisco Business Times)

Vallon Pharmaceuticals has engaged a financial advisor to “evaluate strategic alternatives” to maximize shareholder value. The company hired Ladenburg Thalmann & Co. to conduct the review. (Philadelphia Business Journal)