Cindy Eckert has returned as CEO of Sprout Pharmaceuticals, the maker of the female libido drug Addyi. Eckert sold Sprout to Valeant in 2015 for $1 billion shortly after Addyi was approved by the FDA, but the drug failed to take off, due in part to safety concerns and its high price point. Eckert is working to lower costs and increase access. (Fortune)
WPP’s board investigated whether Martin Sorrell used company money for a prostitute before the former holding company CEO departed in April. Sorrell has “unreservedly” denied the allegation. The former WPP chief stepped down in April. (Wall Street Journal).
America’s Health Insurance Plans, a trade association that represents U.S. insurers, has warned that removing key provisions from the Affordable Care Act could harm millions of people. Last week, the Justice Department labeled the individual mandate unconstitutional. (Reuters)
Members of Congress are worried the FDA is not doing enough to stop illegal drugs from entering the country. “We have concerns about whether the FDA is appropriately devoting its resources to prioritize these efforts against unapproved opioids,” lawmakers wrote in a letter to FDA Commissioner Scott Gottlieb. (Reuters)
IBM’s recent layoffs of Watson Health employees represent larger problems at the division, according to former employees. The company has continued to struggle to deliver on its marketing promises and produce tangible results, according to the ex-staffers. (STAT)
