Ian Read is set to hand the Pfizer executive chairman role to CEO Albert Bourla. One year after he transitioned to executive chairman, Read, Pfizer’s former CEO, is planning to retire at the end of the year. Read has spent more than 40 years at Pfizer. (Endpoints)

Health officials have urged people to avoid THC vapes. The Centers for Disease Control and Prevention said THC vapes were used in most cases of the vaping-related lung illness. Illinois and Wisconsin officials have said they found that Dank Vapes was the most commonly used brand of pre-filled THC cartridges. (CNBC)

The Securities and Exchange Commission fined Mylan $30 million for an EpiPen disclosure failure. Mylan classified EpiPen as a generic drug, allowing the company to pay lower Medicaid rebates and overcharge the government for EpiPen sales. (MarketWatch)

Federal agents raided a genetic testing lab, charging 35 with genetic testing fraud. Officials said the fraud scheme caused $2.1 billion in losses to federal healthcare insurance programs. Charges were filed in Florida, Texas, Louisiana and Georgia. (Reuters)

Avanir has settled bribery charges for $116 million. The company was accused of bribing doctors to prescribe Nuedexta, a drug for treating uncontrollable laughing and crying, and urged nursing homes to give it to dementia patients, for which it was not approved. (STAT)