An advisory panel to the Food and Drug Administration declared that an ingredient in widely used oral decongestants doesn’t work, setting the stage for dozens of products to be removed from U.S. store shelves. At issue is phenylephrine, an almost-century-old ingredient in versions of Benadryl, Mucinex, Tylenol and other over-the-counter pills, syrups and liquids to clear up congested noses.(The Wall Street Journal)

A medical researcher has asked a court to throw out a lawsuit that Johnson & Johnson filed against her over her 2019 study on the links between cosmetic talc products and cancer. She argued that her research is sound and protected by free speech rights. (Reuters)

The CEO of 2seventy Bio said he plans to step down as the company prepares to eliminate about 40% of its workforce in a restructuring effort. The company also said Chip Baird is transitioning from chief financial officer to chief operating officer. (MarketWatch)

Rome Therapeutics advanced its dark genome drug after completing a $72 million Series B extension backed by Big Pharma. Investments from Johnson & Johnson as well as Bristol Myers Squibb brought Rome’s total to $149 million. (Boston Business Journal)

Goldman Sachs revised its outlook on late-stage biotech company Geron, anticipating a potential surge in stock value. The FDA’s acceptance of Geron’s application indicates a decision on the drug’s approval is expected in mid-June of next year. (CNBC)