The Readout Loud 395: Biotech investors' plea to Trump, and a busy M&A week
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Apr 2, 2026 
Rod Wong, managing partner at RTW Investments and rare-disease backer, discusses a coalition pushing for clearer FDA rules. He covers why regulatory predictability matters to investors. Conversations also touch on pharma M&A activity and Eli Lilly’s move into sleep medicines.
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Cash Market Price War For Oral GLP-1s
- Eli Lilly and Novo Nordisk are competing aggressively in a cash market for oral GLP-1 obesity pills at $299/month, pushing subscription discounts via telehealth.
- Novo's $249/year subscription ties discounts to select telehealth partners, raising access and incentive concerns.
Telehealth Discounts Could Skew Prescribing
- Exclusive telehealth subscription deals may steer patients toward specific platforms and create prescribing incentives for providers on those platforms.
- Elaine Chen flagged risk that telehealth providers could be influenced to preferentially prescribe Wagovi due to these commercial arrangements.
Lilly Bets On Orexin Agonists Beyond Obesity
- Lilly acquired Centessa to expand beyond obesity into orexin agonists targeting rare sleep disorders and potential broader cognitive uses.
- Early data show promise in narcolepsy type 1, with speculative hopes for ADHD, Alzheimer's, and Parkinson's benefits.