Lilly Strikes $3.8 Billion Deal for Psychedelic Drugmaker

Summary

Bloomberg Intelligence Podcast Summary

Episode: Lilly Strikes $3.8 Billion Deal for Psychedelic Drugmaker
Date: July 16, 2026
Hosts: Paul Sweeney, Tony Ayo
Featured Guests: Sam Fazelli (Bloomberg Intelligence, Healthcare Research Director), Matt Hendrickson (Senior Equity Analyst), Mandeep Singh (Tech Analyst)

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Episode Overview

This episode focuses on breaking down big moves in healthcare and technology investments, with a particular spotlight on Eli Lilly's $3.8 billion deal for a psychedelic drugmaker. The hosts also examine Merck’s new cholesterol drug, Abbott Laboratories’ latest earnings and strategic focus, and major tech sector developments, including the state of the chip industry and a significant acquisition by Uber. The tone is analytical and conversational, making complex investment themes accessible to a broad audience.

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1. Eli Lilly’s $3.8 Billion Psychedelic Drugmaker Deal

(01:49 – 04:46)

Key Points

• Deal Structure

  • Eli Lilly is acquiring Atai Beckley for up to $3.8 billion.
  • The deal consists of $2.8 billion in upfront cash and $1 billion in contingent value rights (CVRs), depending on the progress of its leading drug assets through Phase 3 trials and regulatory approvals, particularly in the EEA.
  • Focused on synthetic psychedelics for treatment-resistant depression, major depressive disorder, and generalized anxiety.

• Psychedelics as a Therapeutic Space

  • Psychedelics are experiencing a resurgence in pharmaceutical development, offering hope for tough-to-treat mental health conditions.
  • The synthetic drugs mimic compounds found naturally, such as those from certain desert toads, but with precise dosing and manufacturing controls.
  • These compounds’ appeal lies in their ability to “rewire the brain” due to its plasticity, offering potential long-term benefits for conditions like depression and PTSD.

Notable Quotes

• Valuation Explanation:
  “We’ve got $2.8 billion upfront cash and $1 billion in contingent value rights... tied to the lead assets, which... are in two forms, one in internas, all the other ones under the tongue buckle, getting through phase three and also getting EEA approval.”
  — Sam Fazelli [02:33]

• Context for Psychedelics:
  “There’s a resurgence of interest in these psychedelics, which are synthetic... they can help you to a degree rewire your brain, because the brain is a very plastic organ in terms of how it’s learning.”
  — Sam Fazelli [03:38–04:29]

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2. Merck’s New Cholesterol Drug Liphendra

(04:46 – 05:54)

Key Points

• Drug Characteristics
  • Liphendra is oral, works via PCSK9 inhibition, a different mechanism from popular statins like Lipitor.
  • It’s the first oral drug in this space, whereas similar drugs are injectable or RNA-based.
• Pricing
  • At $3,800/year, price is seen as reasonable compared with other drugs entering the market at much higher prices ($10,000–$50,000 per year).

Notable Quotes

• “This is the first oral drug that we’ve got... I actually don’t think $3,800 is a lot. We’re living in a world where drugs come to market at 10, 20, 30, $50,000 a year.”
  — Sam Fazelli [05:05]

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3. Abbott Laboratories: Earnings and Growth Drivers

(09:39 – 13:37)

Key Points

• Earnings Relief and Market Reaction

  • Abbott beat expectations with its Q2 results and issued strong guidance.
  • The company’s shares soared, calming investors after previous concerns about its nutrition segment and CGM (Continuous Glucose Monitor) growth.

• Business Lines and Growth Areas

  • CGMs remain a $10B revenue driver, with 9.5% year-over-year growth.
  • Nutrition is recovering following pricing adjustments, contributing almost 25% of sales.
  • Cancer diagnostics (via Exact Sciences acquisition) is Abbott’s new growth engine, with segment growth at 13% so far this year.

• Exposure to Reimbursement and Procedure Volume Risks

  • Abbott and other diversified medtech companies have been less impacted by changes to government reimbursement than hospital operators.
  • High-acuity procedures, which Abbott focuses on, are less deferable regardless of insurance status.

• M&A and Financial Strategy

  • Recent $23B Exact Sciences acquisition: integration and debt paydown are immediate priorities.
  • Potential for divestment, possibly in the nutrition segment, due to Abbott’s broad portfolio.

Notable Quotes

• “Nutrition is recovering nicely... the CGM business, you know, growing at 9.5%... overall, you know, it wasn’t worse than what was expected. So we eliminated that worst case scenario.”
  — Matt Hendrickson [10:25]

• “If they are able to deliver that throughout the full year... that will be accretive to kind of their six and a half to seven and a half growth guidance.”
  — Matt Hendrickson [13:37]

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4. Technology Sector: TSMC, Chips, and Uber’s Bold Move

(17:22 – 22:32)

TSMC and Chip Industry Outlook

• TSMC Earnings Beat and Guidance
  • 40% top-line growth; guidance raised by 5%.
  • Conservative on supply expansion, even amid high demand driven by AI chips for clients like Nvidia and Apple.
• Market Dynamics and Risks
  • Memory chip pricing grew rapidly, but TSMC not seeing similar trends due to business model.
  • U.S. expansion (Arizona fabs) faces personnel and regulatory delays; U.S. may only see older process nodes initially (5–6nm vs. 3nm).
  • The cyclical nature of the chip industry remains a concern, even in an AI-driven world.
• Quote on Industry Caution:
  “If you get it wrong, you’re going to get crushed. So... is [the chip business] less cyclical now with this whole AI transformation? ... The management team of TSMC is saying, we’re not convinced of that.”
  — Paul Sweeney [19:57]

Uber Acquiring Delivery Hero

• Strategy
  • $15B deal is about marketplace consolidation and defending against risks like autonomous rides.
  • Expands Uber’s reach to 100 countries.
• Perspective:
  “The playbook with all marketplaces is consolidation... this for them is a way to diversify, expand to now 100 countries. Autonomous is not going to be there in 100 countries. So from that perspective, there’s a cushion here.”
  — Mandeep Singh [22:32]

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5. Memorable Moments & Quotes

• On Psychedelics’ Reputation:
  “I wonder what they're like magic mushroom, that sort of stuff... this particular drug originates from a specific desert toad... But this is synthetic.”
  — Sam Fazelli [03:38]

• Host Banter:
  “Sam Fazelli is our drug boss. That’s what we like to call him. And he actually has a jacket that says that.”
  — Tony Ayo [01:49]

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6. Time-Stamped Reference Map

| Segment | Speaker(s) | Timestamp | |-----------------------------------------------------------|----------------------|------------| | Lilly’s $3.8B psychedelic deal, CVR structure | Fazelli, Ayo | 01:49–04:46| | Psychedelics’ scientific appeal & brain plasticity | Fazelli | 03:38–04:29| | Merck’s Liphendra vs. statins; pricing & innovation | Fazelli, Ayo | 04:46–05:54| | Abbott earnings, CGMs, nutrition, cancer diagnostics | Hendrickson, Sweeney | 09:39–13:37| | Tech: TSMC, supply, chip cycles, Arizona issues | Singh, Sweeney, Ayo | 17:22–22:08| | Uber/Delivery Hero acquisition analysis | Singh, Ayo | 22:26–22:58|

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7. Summary Takeaways

• Major pharma and biotech players are betting on next-generation therapies, from psychedelics to advanced diagnostics.
• Drug pricing and reimbursement dynamics remain central investment themes, but new drug mechanisms and delivery forms can justify premium prices.
• Diversification and accretive deals dominate Abbott’s strategy, while M&A across sectors (Uber/Delivery Hero) aims at global scalability and resilience.
• In technology, even an AI-centric boom won’t erase industry cycles or structural hurdles in supply chain, talent, and regulation.

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This comprehensive breakdown makes the episode’s investment angles, sector trends, and thematic deep-dives accessible and actionable for listeners and investors alike.

Transcript

[Paul Sweeney]

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[Tony Ayo]

Where do you think the disconnect is happening?

[Paul Sweeney]

There's this huge differences that exist in terms of what advisors think they're talking about their clients, what clients are actually hearing.

[IBM Representative]

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[Bloomberg Intelligence Host]

Bloomberg Audio Studios Podcasts Radio news. You're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.

[Tony Ayo]

Let's talk about what's going on in the health care space, pharmaceuticals in particular. A big deal here by Eli Lilly. It's made a lot of acquisitions. Paul. I feel like we're always talking about Eli Lilly making another purchase. Sam Fazelli is our Bloomberg Intelligence Director of research covering health care, defense, industrials and autos. He is our drug boss. That's what we like to call him. And he actually has a jacket that says that. And Sam joins us right now from London. Sam, I don't know if you're cheering for England, but if so, our condolences to you. I wanted to start with this Eli Lilly purchase. Buying a Ty Beckley for up to $3.8 billion. That that valuation strikes me as interesting. Why for up to $3.8 billion, are there incentives along the way here?

[Sam Fazelli]

Absolutely right. So when you look at the Numbers, we've got $2.8 billion upfront cash and $1 billion in contingent value rights, so that CVRs tied to the lead assets, which are in two forms, one in internas, all the other ones under the tongue buckle, getting through phase three and also getting EEA approval. Because these are psychedelics. They're drugs that are quite fashionable these days in terms of development because of the profound effects that we're seeing on treatment resistant depression, on major depressive disorder, generalized anxiety disorder, that sort of thing. So there's a resurgence of interest in these psychedelics, which are synthetic. So that's where this extra billion dollar and condition value rights come from, which is why the stock's trading above the $6.75 cash offer.

[Paul Sweeney]

So the psychedelics talk to us about kind of just that part of the therapeutic space there. Sam Is it a big part of.

[Sam Fazelli]

Is it is there are quite a few companies, there are a few names and GhResearch, Mind Compass, just naming a few, Alto, Cybin, et cetera, who are in this space, which is a significant issue for society in terms of depression. But also the fact that their psychedelics, I think takes away or adds a little bit of. I wonder what they're like magic mushroom, that sort of stuff. It's conjured up. In fact, this particular drug originates from a specific desert toad, which is one of those major sources of it. But this is synthetic. The fact is they work on something specific in the brain. And it's been shown that they can help you to a degree rewire your brain, because the brain is a very plastic organ in terms of how it learning.

[Tony Ayo]

Right.

[Sam Fazelli]

That's plasticity. We learn new stuff all the time. So unfortunately, in a depressive state or a PTSD state, that's a learned behavior to a degree, to put it very simply. So that's where I think there's a lot of interest to try and treat patients and help patients here.

[Tony Ayo]

Sam I also want to turn to Merck, getting FDA approval for a new cholesterol pill. It's going to cost $3,800 a year, which sounds pretty expensive if it's not covered by insurance. How is this different, this new medication, Liphendra, different from the world's most popular cholesterol lowering drug, which is Lipitor?

[Paul Sweeney]

Yeah.

[Sam Fazelli]

So these are drugs that work via a different mechanism. It's an inhibitor of something within the system called PCSK9 that are involved in the, in the metabolism, uptake, production of cholesterol. And there are other drugs that are in on the market that do that work the same way, which would be injectables. Or ones that interfere with RNA, etc. In terms of trying to here's the first oral drug that we've got. And that's where I actually don't think $3,800 is a lot. You know, we're living in a world where drugs come to market at 10, 20, 30, $50,000 a year. And here you're having a very profound effect on ldl.

[Paul Sweeney]

Hey, switching gears a little bit, Abbott reported some good numbers. Stocks up the most in, I don't know, million years here. What's going on on Abbott?

[Sam Fazelli]

Yeah, I mean, look, Paul, that's not a space that I'm particularly familiar with. But I'll tell you something, what was interesting is yesterday we had Johnson and Johnson report and you know, they have that they're still ongoing with and that didn't do so well. That was a bit of a drag on them. If you remember where the share price was behaving yesterday. Abbott's of course, in more of a diagnostic and different area of focus. So it's quite nice to see that working. And there's a lot of interest in diagnostic and quality diagnostics, especially when they're married with therapeutics.

[Tony Ayo]

Stay with us. More from Bloomberg Intelligence coming up after this.

[Paul Sweeney]

I don't love the word retirement because I think it has negative baggage. I like the word financial independence. If you were to be financial independent, like how would you spend your time? And that's exactly what a lot of my clients talk about.

[Tony Ayo]

And the term they'll use is a work optional lifestyle. I agree. Like the next gen millennials and below are not thinking about retirement. We're thinking about let's find something that we enjoy that we can have financial independence.

[Paul Sweeney]

I think that's a better way to think about the end of life stage versus quote unquote retirement. Support for this show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge on public. You can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve of the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors, LLC. SEC registered advisor complete disclosures [e-mail] disclosures

[Tony Ayo]

let's talk about health care for a second it doesn't always work the way people expect it to. If you've ever waited on a prescription refill or had a hard time getting the care you needed, you know the feeling the system should just work better for everyone. That's exactly what the people at Optum are trying to do every day. They're a healthcare company linking patient care and pharmacy services and using data and technology to drive the whole system so care is connected, not complicated for patients and providers. Things like making it easier to get care that looks at the whole person, from primary care doctors to mental health support and even in home care, and then using technology to make sure they all work together. Technology designed to help doctors spend less time on busy work and more time with their patients and those prescriptions. Optum is working to bring costs down, save patients money and make it easier to get refills. Little by little, Optum is helping make healthcare work as one for everyone. Head to business.optum.com to see how

[Bloomberg Intelligence Host]

you're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.

[Paul Sweeney]

Advert Laboratories stock is soaring today, the most since 2002. I guess the street liked their earnings for the second quarter and probably more importantly, their guidance going forward. Let's check in with the analyst who covers abt, Matt Hendrickson, Senior Equity Analyst for Bloomberg Intelligence. Matt, talk to us about Abbott Laboratories and what they disclosed here in the earnings release.

[Matt Hendrickson]

Yeah, this earnings was a huge sigh of relief for investors. They went into the call some headwinds were or some headwind risks were in the nutrition segment and that was going to be dilutive to the overall growth. There was also questions about the CGM market, which is their core growth driver. Continuous glucose monitors.

[Paul Sweeney]

Oh, that's the I see on people's arms.

[Matt Hendrickson]

Yeah, exactly. A little like the size of a quarter on the arm. Yeah, that's a $10 billion revenue run rate for the company. There were some concerns that it was decelerating growth from kind of the mid teens, high teens from last year to below high single digits this year. Basically their results kind of calmed all those nerves. Nutrition is recovering nicely after they implemented new pricing mechanics into their their business model, the CGM business, you know, growing at 9.5%, kind of slightly below the double digit expectations that management had. But overall, you know, it wasn't worse than what was expected. So we eliminated that worst case scenario.

[Tony Ayo]

Okay. Why was there so much concern, I think about health care and I think about UnitedHealth in particular and some of the issues it's had with Medicare reimbursement and government changes to reimbursement plans. Overall, is that a concern for a company like Abbott?

[Matt Hendrickson]

It's always going to be an overhang and we saw that earlier this week when HCA reported and they highlighted some headwinds from ACA related insurance patients. We have not seen that yet in the medtech side so far in the second quarter. J& J talked about stable procedure volumes. Abbott talked about the same procedure volume stability. One of the reasons I think is that Abbott and jj, they're focusing on those more high acuity cases. These patients need to be treated regardless of what their insurance coverage is. And so the hospitals almost have an obligation to treat those patients where some of those low acuity cases will be deferred longer term.

[Paul Sweeney]

I'm looking at the PGO function on the Bloomberg terminal shows me where they get their revenue. There's a lot of places where they get their revenue.

[Matt Hendrickson]

It's highly diversified.

[Paul Sweeney]

It is highly diversified medical device company. What does the street focus on? Are there two or three business lines that. Yeah, because even with the stock up today 11% still down 20% year to date. So what's kind of the investment call here on this name?

[Matt Hendrickson]

Yeah, so the first one goes back to the CGMs. That being that kind of 10 billion revenue run rate. If you're looking at it being back to that double digit revenue growth, that's going to be a promising growth driver for them, that nutrition recovery because that is still almost 25% of their sales. If they can get that back to growth, that's going to be a good contributor for them. And then the newest growth driver actually is the exact science acquisition that they made. So when you think about, you see those TV commercials for cologuard, that's exact sciences. So now Abbott has entered that cancer diagnostic segment and that's a business that's. They were expecting it to be mid teens growth this year for that cancer diagnostic segment. And so if they are able to deliver that throughout the full year they've grown at 13% so far in the first half. That will be accretive to kind of their six and a half to seven and a half growth guidance.

[Tony Ayo]

Is there any talk about M and A when it comes to Abbott, whether it's maybe going to divest some businesses so that can get a higher share price or you know, maybe even add on because it has done a pretty good job with diversification.

[Matt Hendrickson]

Yeah, let's, let's, I'll start with the add ons first. So that exact science deal closed early or late in the first quarter. And so that was a $23 billion deal that they have to digest that deal. They have to integrate it. They raised 20 billion in debt. So they have, they had the free cash flow just pay down that debt. That's the first step. Divestitures, I mean there's always, because they're so diverse, there are some probably differentiated features like nutrition that could be able to potentially divest in the future.

[Tony Ayo]

Stay with us. More from Bloomberg Intelligence coming up after this.

[Paul Sweeney]

Support for the show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge on public. You can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors, LLC. SEC registered advisor complete disclosures [e-mail] disclosures

[Tony Ayo]

let's talk about healthcare for a second. It doesn't always work the way people expect it to. If you've ever waited on a prescription refill or had a hard time getting the care you needed, you know the feeling the system should just work better for everyone. That's exactly what the people at Optum are trying to do every day. They're a healthcare company linking patient care and pharmacy services and using data and technology to drive the whole system so care is connected, not complicated for patients and providers. Things like making it easier to get care that looks at the whole person. From primary care doctors to mental health support and even in home care. And then using technology to make sure they all work together. Technology designed to help doctors spend less time on busy work and more time with their patients and those prescriptions. Optum is working to bring costs down, save patients money and make it easier to get refills. Little by little, Optum is helping make healthcare work as one for everyone. Head to business.optum.com to see how the

[IBM Representative]

thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across hr, IT and procurement processes, we've reduced costs by millions, slashed repetitive tasks and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business IBM.

[Bloomberg Intelligence Host]

You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.

[Paul Sweeney]

Right now, let's check out Mandeep Singh. He joins us here in our Bloomberg Interactive Broker studio. He covers all the technology stuff there for us. I want to start with tsmc, the chip maker. What did we learn with their earnings andeep?

[Mandeep Singh]

I mean again, very solid print raised their guidance by about 5 percentage points for the full year. So 40% top line growth. If you had to find faults, the only thing that they didn't show, which you saw with the memory names, is pricing. Okay, so pricing growth for memory was off the charts. We were talking about, you know, 40% quarter over quarter pricing growth. That doesn't seem to be the case with tsmc, partly because of how they run their business. And I feel all these companies are still reluctant to expand their supply even though TSMC raised their capex by 12% for the full year. But given the supply demand mismatch, to my mind they're leaving a lot of revenue on the table because they don't want to expand supply.

[Tony Ayo]

Why do you think that is? Is it just they've been burned in the past when the cycle turned against them?

[Mandeep Singh]

It's the management teams are very conservative. They don't want to take a chance where they double their supply in a year and guess what, something happens go out and they don't want to be in that situation. But to my mind, the reason why intel has a shot now is because TSMC is conservative in expanding supply.

[Tony Ayo]

Just clarify for us, TSMC makes chips for Nvidia. So we're talking the super high end AI chips. Does it make memory chips?

[Mandeep Singh]

No. So all the memory guys have their own fabs and they make their own chips. So TSMC does have a very broad set of clients it serves. So not just Nvidia, but also your AMD's, Qualcomm's, Apple. Apple used to be their biggest customers. So they have pivoted from smartphone chips to more data center chips. But at the end of the day, they have the best process nodes, the best manufacturing capabilities. If they wanted to do the memory chips, they could do potentially. But they've just been conservative when it comes to expanding their supply. And we know the concentration in Taiwan. They've talked about adding new factories here in the us but when you are a company with literally a monopoly and the balance sheet to expand at the pace you want, why would you not be aggressive here? And I just don't get it.

[Paul Sweeney]

All right, so the very little I know about the semiconductor business, I learned from Anishreenivasan. He taught me everything. But the first thing he taught me is it's a cyclical business. Dude, if you get it wrong, you're going to get crushed. So the question I've been asking you guys is, is it less cyclical and maybe materially less cyclical now with this whole AI transformation and what I think the management team of TSMC is saying, we're not convinced of that.

[Mandeep Singh]

Yeah, no one is convinced. But you get technology shifts like this in maybe two or three decades. And this is a very big technology shift. And it's evidenced by the fact that you have a big supply demand mismatch that continues to carry through. And the biggest chip maker who's exposed to the trend, Nvidia is telling you they have visibility to $1 trillion in revenue. So why would you not believe Nvidia if you are a big supplier to Nvidia, which TSMC is, or you're in

[Tony Ayo]

a really good position and you want to stay in a really good position barring intel coming in and taking some of that business. You mentioned that TSMC has been looking to build production capabilities in the U.S. we know. I believe, I think it's Arizona where they've done that. How, how's that going? How's that effort going? Because for a while there was an issue with talent shortage, right?

[Mandeep Singh]

There is. And look, they've been actually adding to their capex for expansion here. So a lot of these fabs take up to two years just for that initial factory to start producing chips. And they may not be at the leading nodes like your 3nm, so it will be more like 5, 6nm chips before they can get to 3nm, partly because of the talent shortage. So they need those kind of people who, who can do things at the leading node. But all of this combines with the fact that the lead times are very long to set these up.

[Tony Ayo]

The reason I asked about the talent issue is because we're not making it easy for companies to bring in engineers and folks with the capabilities from overseas if that talent is not available in the U.S. absolutely.

[Mandeep Singh]

And look, I think even when it comes to getting permits, getting the resources, water and you know, all the kind of supplies you need to set up a leading semiconductor fab, it takes a lot more time here than if it probably takes anywhere else, 30 seconds.

[Paul Sweeney]

Uber bought Delivery Hero for close to 15 billion. What does delivery Hero Hero wants to do for Uber?

[Mandeep Singh]

I mean, the playbook with all marketplaces is consolidation. Uber CEO did that back in the day with Expedia. He's doing the same exact and the big threat for a company like Uber is autonomous rides. So this for them is a way to diversify that kind of expand to now 100 countries. Autonomous is not going to be there in 100 countries. So from that perspective, there's a cushion here.

[Bloomberg Intelligence Host]

This is the Bloomberg Intelligence podcast, available on Apple, Spotify and anywhere else you get. Your podcasts listen live each weekday 10am to noon Eastern on Bloomberg.com, the iHeartRadio app, TuneIn and the Bloomberg Business app. You can also watch us live Every weekday on YouTube and always on the Bloomberg terminal.

[Tony Ayo]

Healthcare doesn't always work great. If you've ever waited on a refill or couldn't schedule an appointment, you get it. That's the kind of stuff Optum is changing. They're using data and technology to integrate patient care, pharmacy and everything else. So healthcare is connected, not complicated. What's that look like? Cheaper prescriptions that are easier to get and care that looks at the whole person how you need it. Optum is helping make healthcare work as one for everyone. Learn [e-mail] this is Tony Ayo from

[Paul Sweeney]

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[Tony Ayo]

Literally.

[Paul Sweeney]

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