In this episode, Tomas Philipson, a professor at the University of Chicago and former acting chair of the Council of Economic Advisors, alongside financial analyst Thom Gunderson and pharmaceutical expert Briana Mayer, discusses drug innovation, pricing policies, and the role of the FDA in the drug approval processes. Philipson shares insights on the impact of U.S. pharmaceutical spending on global health, critiques the Most Favored Nation pricing model, and emphasizes the importance of innovation in healthcare. The conversation also touches on the implications of the Inflation Reduction Act on drug development and the feedback from the pharmaceutical sector regarding recent policy changes.