ian read, albert broula
Outgoing Pfizer CEO Ian Read and his successor, Albert Broulal

Pfizer’s CEO is stepping aside, effective January 1, 2019. Ian Read will hand the reins to Albert Bourla, but will remain at the company as executive chairman. Bourla has been serving as the drugmaker’s COO. (Wall Street Journal)

Libtayo, the skin cancer drug from Sanofi and Regeneron, has been approved by the FDA for patients who have already tried surgery or chemotherapy. The list price for the three-week treatment will be $9,100. (Reuters)

Memorial Sloan Kettering VP Dr. Gregory Raskin will hand over the $1.4 million he made from his stake in a biotech company. The nonprofit has been in the media spotlight since it was revealed that some of its executives financially benefited from ties to the health and drug industries. (New York Times)

James Allison and Tasuku Honjo have won the Nobel Prize in medicine for their discoveries that the immune system can be harnessed to fight cancer cells. Allison, the chair of the department of immunology at M.D. Anderson Cancer Center in Houston, and Honjo, a professor at the Kyoto University Institute for Advanced Study, will share the $1 million prize. (STAT)

California Governor Jerry Brown has vetoed a controversial dialysis bill. The legislation, which the California Assembly passed in late August, would have capped payments at lower Medicare rates for providers who have financial connections to nonprofits that subsidize patients’ commercial insurance. The veto is a boon for dialysis companies. (Axios)