Sanofi has started working with an adviser on preparations for a planned separation of its consumer health division, people with knowledge of the matter said. The French drugmaker is in the early stages of speaking with Rothschild & Co. about a separate listing of the business, which could be valued at more than $20 billion in any deal, the people said. (Bloomberg)

The Federal Trade Commission warned two trade associations as well as 12 dieticians and online influencers about social media posts promoting aspartame or sugary products without disclosing that they had been paid. In letters to the American Beverage Association and Canadian Sugar Institute, the FTC said it was concerned that influencers the groups had hired to post on Instagram and TikTok did not properly identify their posts as advertising. (The Washington Post)

Graphite Bio agreed to merge with Lenz Therapeutics in an all-stock transaction. The clinical-stage gene editing company and Lenz said that the tie-up will create a publicly-traded, late-stage biopharmaceutical company focused on advancing LENZ’s lead assets for the treatment of presbyopia, a type of age-related vision loss. (MarketWatch)

Biotech stocks have climbed once again, but it isn’t because the outlook for the sector has gotten any brighter. Share prices have been dropping consistently since early February of 2021, when the air started coming out of the pandemic-era biotech bubble. (Barron’s)

The New York Times provided an inside look at the effort to evacuate young cancer patients from Gaza.A mission to rescue cancer-stricken children from the violence in Gaza has involved multiple countries and last-minute connections in the chaos of war.(The New York Times)