For the second quarter of fiscal year 2016, Abbott’s sales increased 3.2 percent to $5.33 billion, while its net earnings decreased 21.5 percent compared with the same period of 2015.

Madrigal Pharmaceuticals and Synta Pharmaceuticals completed their merger on July 22.

Theranos hired Dave Wurtz and Daniel Guggenheim on July 21 to lead the beleaguered company’s regulatory, quality and compliance departments.

A federal judge refused AstraZeneca’s request to temporarily ban companies from selling generic versions of rosuvastatin calcium (Crestor), Bloomberg reports. Barring an appeal, companies will be able to sell cheaper versions of the blockbuster medication, which accounted for more than $5 billion in sales.

Novartis plans on spending an additional $200 million this year to boost sales of sacubitril/valsartan (Entresto), the company’s twice-daily oral medication to treat patients with heart failure.

A federal court dismissed a lawsuit against Cardiovascular Systems and approved a settlement between the company and a former salesman on July 11, Mass Device reports. The salesman alleged that Cardiovascular Systems used illegal tactics to increase sales of its orbiral atherectomy devices.

Former Valeant CEO Michael Pearson sold nearly five million shares and options for $96.8 million from June 30 through July 5, CNBC reports. Pearson left Valeant in late April after the company received criticism for significantly increasing the prices of its medications.

Mednax acquired Pediatric Cardiology Associates on July 11 in a cash transaction for an undisclosed amount.