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Hey all,

Hope you had a good weekend. Healthcare Huddle’s piece on ghost networks struck me as especially true. I’ve opted out of in-network providers for primary care and I’m doing the same for mental health because nobody who is any good takes insurance. Enjoy the rundown!

Jacob Brody (Co-Founder & CEO, ZorroRX)

(Cost Curve) Pharma Innovation & ‘Pharm to Table’ Scrutiny

Pharma is doubling down on R&D like never before, with IQVIA’s new “Global Trends in R&D 2025” report revealing record investment levels, rising late-stage trial success, and a striking geographic shift—China is surging while Europe falters. Alongside this innovation boom, a NEJM article raises concerns about pharma-telehealth partnerships, but critics argue it leans too heavily on hypotheticals and overlooks how legitimate players are focused on patient outcomes, not shortcuts. Funny how academic elites are fine consulting for pharma behind closed doors or taking their funding for research, but let a telehealth startup in the room and suddenly it’s the bastardization of medicine. Full Article

(Healthcare Huddle) Ghost Networks in Health Insurance

Ghost networks—where health insurers list unavailable, out-of-network, or inactive providers in their directories—mislead patients into believing they have access to care that doesn’t exist, often resulting in delays, out-of-pocket costs, or giving up on treatment altogether. Despite the No Surprises Act mandating updates every 90 days and protections against surprise billing, weak enforcement and limited accountability have allowed inaccuracies to persist, especially in mental health networks, eroding trust in the system and inflating healthcare costs. At this point, finding an in-network therapist feels less like accessing care and more like cold-calling leads in a failing sales funnel. Full Article

(STAT News) Novo Nordisk Licenses Oral Obesity Drug

Novo Nordisk has licensed LX9851, an experimental oral obesity drug from Lexicon Pharmaceuticals, that may help patients maintain weight loss after stopping Wegovy, its popular injectable treatment. The small molecule inhibits ACSL5, a novel metabolic target linked to fat storage and energy use, and showed promising weight loss and fat reduction effects in mice, especially when combined with semaglutide. This move positions Novo to compete in the rapidly expanding obesity drug market with a more scalable, pill-based option, while providing Lexicon with up to $1 billion in potential milestone payments. Full Article