The Readout Loud

They dig into Eli Lilly’s aggressive deal-making and why some targets push back. Merck’s nearly $7 billion purchase of Terns and the investor backlash get unpacked. An upcoming Allogene data readout on off-the-shelf CAR-T for B-cell lymphoma is previewed. A surprising weight-loss trial miss from Wave Life Sciences sparks discussion.

Stelios Papadapolous, veteran biotech executive and dealmaker nicknamed the industry's 'godfather', reflects on regulatory turmoil and rebuilding talent at the FDA. He discusses China's rise in biotech and risks from nationalist policies. He also recounts serendipitous drug discoveries and why lone innovators still matter.

Damian Garde, STAT reporter who investigated Boris Nikolic and Jeffrey Epstein, brings investigative reporting and context. He unpacks Nikolic’s surprising fundraising comeback and the documents linking him to Epstein. The conversation also covers Vinay Prasad’s exit from the FDA and scrutiny of rare-disease decisions. Short, probing takes on biotech reputational risk and fundraising dynamics.

Cameron Turtle, CEO of Spire Therapeutics and builder of long-acting biologics and combination IBD therapies, discusses strategies to surpass the IBD efficacy ceiling. He explains why co-formulated combinations and replacing older mechanisms could boost remission rates. The conversation also touches on regulatory debates around rare-disease approvals and sham-surgery ethics.

Jared Holz, a health care sector specialist at Mizuho Securities who covers biotech, pharma, M&A and investment trends. They run through biotech market tone and M&A expectations. They debate FDA turmoil and rare disease review inconsistencies. Politics and midterm effects on drug policy come up. They also touch on the Lilly vs Novo valuation gap and AI’s growing role in the industry.

Katie Palmer, STAT health reporter covering telehealth and regulation. She walks through Hims & Hers’ launch of a compounded GLP-1 pill and the regulatory uproar after a high-profile ad. They also unpack the FDA’s sudden change on reviewing Moderna’s flu shot and what that means for politics, enforcement, and telehealth companies.

Jesse Goodman, former FDA official with deep regulatory experience, offers perspective on refuse-to-file norms. Lizzy Lawrence, STAT reporter, brings inside reporting on FDA vaccine office dynamics. Stephen Hoge, Moderna president, explains the company’s mRNA flu strategy and regulatory interactions. They discuss the FDA blocking review, trial design disagreements, comparators, and how agency decisions affect innovation and global strategy.

Jason Mast, STAT staff reporter who covered Vertex’s sickle cell therapy rollout, joins to explain why manufacturing and stem-cell collection hurdles have slowed access. He breaks down the technical and logistical bottlenecks and how they affect patients and commercial prospects. Short updates also touch on shifting GLP-1 market dynamics and recent regulatory roadblocks.

Rita Redberg, cardiologist and former JAMA Internal Medicine editor, discusses statins and how they became widespread. She explores why millions take atorvastatin, the limits of preventive medicine, and debates over over-prescription. The conversation looks at risk measurement, real-world side effects, and whether lifestyle or tighter guidelines should guide heart-disease prevention.

Lauren Holder, a caregiver, advocate, and host of Help for HD living with Huntington’s disease, speaks about the community’s reaction to UniQure’s gene therapy news. She discusses regulatory reversals, the push to petition the FDA, and the high stakes for access and mental-health fallout. The conversation centers on trial design debates and urgent planning for treatment pathways.