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Lilly shares dipped, and Novo’s climbed, as Foundayo’s early trajectory diverged from that of oral Wegovy. Elsewhere, Regeneron inked a drug price deal and two companies announced leadership changes.

In today's Morning Rounds newsletter, a new era in GOP drug policy, an international childhood vaccine campaign grows, and more.

A multiple sclerosis drug from Sanofi that was rejected late last year by the FDA found a warmer reception in Europe.