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A rumored private equity buyout of Walgreens could lead the company to be split up, according to media reports. People familiar with the discussions told the Financial Times that a buyout from Sycamore Partners, a firm that has a historical interest in retailers, would "set the stage for a three-way break-up." Sycamore is looking to split the three main divisions at Walgreens into their own segments, including their own capital structures. (Minemyer, 2/27)

After announcing plans to build four manufacturing sites in the U.S. on Wednesday, Eli Lilly CEO Dave Ricks skillfully demurred when asked if the move might forestall tariffs that President Trump has threatened to levy on the pharmaceutical industry. “There’s no discussion about that yet,” he told CNBC. “… But it makes no sense to punish companies that are pursuing this agenda.” (Silverman, 2/27)

Pfizer on Thursday made significant changes to its diversity, equity, and inclusion webpage, as companies across different industries seek to reposition their policies and messaging amid President Trump’s dismantling of DEI initiatives. The pharma company now emphasizes merit throughout its webpage. (Chen and Parker, 2/27)

President Donald Trump confirmed Thursday that new 25 percent tariffs will go into effect March 4th against two of the U.S.'s largest trading partners. Trump also threatened to add an additional 10 percent tariff on Chinese goods and services on the same date. Writing on Truth Social, Trump once again cited street drugs "pouring into our country from Mexico and Canada at very high and unacceptable levels" as a primary reason for the policy. (Mann, 2/27)