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Agrochemical maker Bayer and attorneys for cancer patients announced a proposed $7.25 billion settlement Tuesday to resolve thousands of U.S. lawsuits alleging the company failed to warn people that its popular weedkiller Roundup could cause cancer. The proposed settlement comes as the U.S. Supreme Court is preparing to hear arguments in April on Bayer’s assertion that the U.S. Environmental Protection Agency’s approval of Roundup without a cancer warning should invalidate claims filed in state courts. That case would not be affected by the proposed settlement. (Lieb, 2/17)

Compass Pathways on Tuesday disclosed results from two Phase 3 studies that support a potential approval of its psilocybin treatment for severe depression, but more detailed data are needed to determine how beneficial the drug would be for patients. (Chen, 2/17)

Sanofi said an experimental medicine it’s developing with Teva Pharmaceuticals Inc. helped patients with inflammatory bowel disease. The benefits after treatment with the drug, duvakitug, were maintained over 44 weeks, Sanofi said in a statement. The 130 patients enrolled in the intermediate trial had ulcerative colitis or Crohn’s disease. Any positive news is key to Sanofi, which needs new medicines to replace its top-seller Dupixent as it ages. (Fourcade and Furlong, 2/17)

The Food and Drug Administration (FDA) has released new guidance for veterinary drug makers to define how long medically important antibiotics should be used in livestock. (Dall, 2/17)