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In the ultra-competitive world of cancer medicines, biotech company Summit Therapeutics is a relative minnow, with no revenue or approved drugs. But recent news around its most promising drug nearly doubled the company’s share price, and minted its co-CEO Maky Zanganeh as a new billionaire.

The Iranian immigrant who fled her home country as a child is now one of just 34 self-made U.S. women billionaires, and one of three American women to have made a billion-dollar fortune in the healthcare sector.

Illustration by Alex Castro for Forbes

Thanks to a $30 billion state-licensed cannabis economy spanning 38 states, marijuana legalization is no longer a Democratic issue by default, and is now becoming a proxy for classic conservative ideals: pro-business, states’ rights and freedom from Big Government. After years of perpetuating the war on drugs, an expert told Forbes, the GOP has finally realized that legalization is happening with or without them—and many lawmakers have decided to get on the bandwagon.

The Israeli military said it conducted a series of “extensive” airstrikes Monday targeting Hezbollah strongholds in southern Lebanon and urged civilians in the region to evacuate from their homes. It comes a day after Hezbollah fired more than 100 rockets into northern Israel, as well as Israeli airstrikes on Friday and Saturday that targeted the Iran-backed militant group’s leadership in Lebanon. The intensifying military exchanges have raised fears of escalation into an all-out conflict, even as Israel’s war in Gaza is set to enter its second year.

A Nike flagship store in Shanghai

Athletics apparel giant Nike announced it would bring retired exec Elliot Hill back as CEO, replacing John Donahoe next month, in a move that powered a nearly 7% boost to the company’s stock Friday. Nike has struggled under Donahoe’s tenure, with criticism ranging from his leadership capabilities, to a crowded sportswear space and the broader retail decline in China.

Jeff Ferro, CEO of accounting firm Baker Tilly, reached an uncomfortable conclusion in 2022: To stay competitive, his firm had to invest more in technology, mergers and new hires. His solution was one that’s grown increasingly common in the........

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