The rate of serious medical complications rose in hospitals bought by private equity firms, according to a new study published in JAMA. Hospitals saw the incidence of surgical infections, bed sores and other complications increase by 25% among patients with Medicare. (The New York Times)

Bristol Myers Squibb will pay $4.1 billion to acquire radiopharmaceutical company RayzeBio, which develops targeted radiation cancer therapies. BMS has been seeking opportunities to recharge its oncology pipeline, with its blockbusters Opdivo and Yervoy facing expiring patents. (The Wall Street Journal)

The federal government’s import ban on certain Apple Watches goes into effect this week. The ban arrives in the wake of the International Trade Commission’s decision that the Apple Watch’s blood oxygen measurement feature was overly similar to Masimo’s patented pulse oximetry products. (STAT)

The Food and Drug Administration declined Amgen’s application for full approval of its lung cancer therapy Lumakras. The agency asked the company to conduct a confirmatory study in order to keep the drug on the market. (Endpoints News)

AstraZeneca will acquire Gracell Biotechnologies in a deal worth up to $1.2 billion. The acquisition gives AZ access to Gracell’s experimental cell therapies. (Reuters)