# Healthcare Podcast Weekly Digest: May 2–8, 2026 > Healthcare podcast and news synthesis for May 2–8, 2026. Eli Lilly's blowout Q1 and Foundayo launch, an FDA move against compounded GLP-1s, UnitedHealth's underwriting-cycle inflection, and the AI inflationary-vs-deflationary debate. ## Healthcare Podcast Weekly Digest ### May 2 – 8, 2026 --- ```request-access variant: ghost heading: Want this kind of synthesis on your own coverage? buttonText: Request access ``` ## 1. Opening Summary Healthcare snapped its multi-quarter underperformance this week as Eli Lilly delivered a blowout Q1 (revenue +56% YoY, EPS $8.55 vs. $6.79 consensus), the FDA moved to shut down compounded GLP-1 channels (a major tailwind for LLY/NVO), and UnitedHealth was added to Goldman's Conviction List with the firm calling MA "near the bottom of its underwriting cycle." Beneath the mega-cap headlines, biotech M&A hit $84B in Q1 (best start since 2019), the Trump administration's 100% pharma tariff is reshaping supply chains, and a fierce debate is forming around whether AI in healthcare is currently inflationary (prior-auth bot wars, upcoding) or destined to become deflationary on a 5-10 year horizon. --- ## 2. Key People This Week | Speaker | Affiliation | Key Quote / Take | | --- | --- | --- | | **Steve Kraus** | Healthcare VC investor (The Heart of Healthcare, May 4) | On AI: *"Is it in a year? Probably not. But in five years or 10 years…will this technology be deflationary? I'm pretty confident we will."* | | **Michael Esquivel** | Investor / commentator (The Heart of Healthcare, May 4) | On Epic's AI moat: *"Being the 800-pound gorilla is not necessarily the ultimate moat."* | | **Scott Becker** | Becker's Healthcare (Apr 22 episode) | On GLP-1 distribution shift: *"At one time, you couldn't get a GLP-1 unless you went through…the health systems… Now you have direct marketing directly from… Hims and Hers, the Ro, the Eli Lillys."* | | **Alan Condon** | Becker's Healthcare ASC analyst (Apr 22) | Tenet/USPI deploying *"about $250 million a year into ASC acquisitions, into de novo builds…no sign of slowing down."* | | **David Ricks** | Chair & CEO, Eli Lilly (Apr 30 release) | *"2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion."* | | **Tim Noel** | CEO, UnitedHealthcare (May 5) | On cutting prior auth 30%: *"Prior authorization is an essential safeguard but should only be used when it truly protects patients and improves care."* | | **Carter Gould** | Cantor Fitzgerald (May 1) | LLY PT to $1,230 from $1,205. Highlights *"strong OUS Mounjaro demand…encouraging early Foundayo ramp."* | | **Emily Field** | Barclays (May 5) | LLY PT to $1,400 from $1,350. *"Strong tirzepatide momentum takes focus back to the big picture."* | | **Mark Cuban** | "Cost Plus Wellness" launch (referenced Apr 22) | Hospitals *"might actually be losing the most money on their biggest commercial payer contracts"* once factoring in denials, delays, clawbacks. | Sources: [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3D0plN_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8CWK9uWRPfYMUjXfYyRUORfbFU-2FRn-2BTIxuNZ846XimzbzdUIfTFWz8p4bHzhQr5aRDNu0b5-2BiZllhb9vKmSkGqgYpDGchN3BAhCUmVIgoLc-2BpdNw7nZafPqA4o2yz7kJg-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DYzTE_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw3K1bMAhH4EnyqZ5HoeFHDdK-2BcNLWLRVSNS6szaKlO3vkGhWjVV4lIHXISFwaxJWMW0V9pGlmVabP0NgxKniujJGY9Hi0tDIu7C675-2BUX-2FtjqXqNrSwpzWK7eDVZxc-2FEYg-3D-3D); MFNews UNH/LLY tape Apr 28 – May 6, 2026. --- ```request-access variant: inline heading: Want this kind of synthesis on your own coverage? buttonText: Request access ``` ## 3. Hot Topics ### Eli Lilly (LLY): The "Foundayo" Launch - **Q1 print (Apr 30):** Revenue $19.8B vs. $17.8B consensus; non-GAAP EPS $8.55 vs. $6.79 consensus. - **Guidance raised:** FY26 EPS to $35.50–$37.00 (from $33.50–$35.00); revenue to $82–$85B (from $80–$83B). - **Foundayo:** First/only approved GLP-1 pill that can be taken any time of day, no food/water restrictions. Ricks: *"Foundayo will meaningfully expand the number of people who can benefit from GLP-1s."* - **Foundayo safety scare (May 4):** Single FAERS hepatic-failure case in a 56-year-old male caused stock to drop ~3% pre-market to $936.03. Lilly told Wolfe and RBC: *"In line with our standard procedures, Lilly Global Patient Safety thoroughly assessed the individual report…and determined it was not reasonably related to Foundayo."* RBC called it *"baseline noise, not a mechanistic safety signal."* - **Capex (May 6):** Additional **$4.5B** committed across two Indiana Lebanon sites (API + first dedicated genetic medicine manufacturing facility), bringing total Indiana commitments since 2020 to >$21B. - **Tirzepatide:** Generated ~$36B combined Mounjaro/Zepbound sales in 2025, pulling firmly ahead of Novo Nordisk in market share (web research). - **Sell-side reaction:** Cantor PT $1,230 (from $1,205); Morgan Stanley $1,344 (from $1,327); Barclays $1,400 (from $1,350), all Overweight. ### UnitedHealth (UNH): Inflection Setup - **JPMorgan (Apr 28):** PT raised to $420 from $389, Overweight maintained. - **Goldman Sachs (May 1):** Added to **US Conviction List**; firm believes UNH is *"nearing the bottom of its underwriting cycle for Medicare Advantage, which presents 40% of its business."* Buy rating, $435 PT. - **Prior auth move (May 5):** UnitedHealthcare cut **30% of remaining prior-authorization requirements**, with another 30% reduction by year-end (incl. select outpatient surgeries, echocardiograms, certain outpatient therapies and chiropractic care). UNH currently requires PA on only 2% of medical services; 92% are approved in <24 hours. Best-in-class friction profile vs. peers, but the move also appears defensive against the broader managed-care backlash. ### GLP-1 Ecosystem - **FDA 503B move (Apr 30):** FDA proposed excluding semaglutide, tirzepatide, and liraglutide from the **503B Bulks List**, finding *"no clinical need for outsourcing facilities to compound these drugs from bulk substances."* Effectively shuts down legal mass-compounding once shortages resolve. Material tailwind for LLY and NVO branded volumes. - **Direct-to-consumer pricing:** Per Becker (Apr 22), Lilly DTC ~$450/month vs. compounded semaglutide ~$200/month. - **Medvi fraud case (cited May 4):** A 2-person company achieved a multi-billion valuation selling oral semaglutide at $249/month with auto-renewal, fabricating **800 synthetic doctors** and 5,000 Meta ads. Kraus noted oral semaglutide had *"no viable absorption pathway"*, a cautionary tale on telehealth/compounding due diligence. - **Read-throughs:** ResMed (RMD) reported double-digit profit growth, with GLP-1 patients *more* likely to initiate CPAP, unraveling the "GLP-1 kills sleep apnea TAM" bear case. Hims & Hers (HIMS) and Tango Therapeutics carrying ~28-31% short interest into the regulatory shift. ### ASC / Surgery Center Consolidation - **Tenet (THC):** Through USPI, operates **533 ASCs and 26 surgical hospitals**, largest U.S. ASC operator; deploying ~$250M/yr in acquisitions and de novo builds. - **Optum/SCA Health (UNH):** #2 with 320 centers, ~200 fewer than Tenet. - **Ascension/AmSurg:** Acquiring AmSurg (~250 ASCs) for ~**$4 billion**, pending final regulatory hurdles. - **Surgery Partners (SGRY):** *"A couple of big private equity firms have looked at potentially acquiring [Surgery Partners] over the last couple of years"*, flagged by Condon as a potential PE takeout candidate. Sources: [Eli Lilly Q1 release, Apr 30, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NimV2Ie-2FSX-2Bb2XN-2Bmxz2vmM-3DMzQG_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8EO5cPtMp9zEewfSuKAl1G50TYR-2BoEaK8MiBMfnBfDFYsaYKKVN1Yi9F8CoxV8u4-2FTRx1rSRoXaQqVJnKpCmdVP4r7EivluqP-2Fa2Ejut7BHi3aCo9LlndS6cv-2Fy6SulBw-3D-3D); [FDA 503B announcement, Apr 30, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NnOqKlXMknrnFC04y62-2Fcbxk-2BvQ8myoIhw66-2FEWm-2B6A9VJ7uaRTgZk5Yyr8bo6RcPlwEn-2Bzj5fShpAwz63O9ZQsL1auVm6-2FOh4uojMe12TI6sixazin7ISacCavDvXqleWFLm1-2FCsUbPq3KHPZKW9IsCnfv0yil9Kjn3RTic-2FnzOJ5Iz_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuwwaHQ-2B1ek-2FS2fFjvTyC6iTWPcqi-2BqL5YyztzoqWzjcPEDsDhoY6N5C35lSgdWxDzHRFNpsl4-2BjIj-2FmGpYKxt1xz99ABZAavxcIRIjX6MoMxi1IwPHFk2IJGxDwUWyzEjmg-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DQDNP_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw-2Br0UrR4DueGcXf8ylCu4WpRwxhyR5acz4bTwBiuISpakZg4J3pkP2-2F9KvYgyhxXx5GAb4Ihkmhf8H7AifoNXLrE6sVeHTINOlXE48phoHrEKsinJaXsrFRy6whY0XK7mw-3D-3D); [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3DuNwD_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuwzDclKnisSM7HoQTc6giqWB7SVwh-2Fodc9aPAEJxN2fItPpEiksmNV6KPn6-2B11hzEIv6ahAujlPTGokopLvMFULyqmy-2FlXsqSDPJdHQVmvXlw29bkKNNzCxGprhV9otIWOg-3D-3D). --- ## 4. Key Debates ### Debate 1: Is AI in Healthcare Inflationary or Deflationary? - **Bear (today):** Peterson Health Technology Institute (cited May 4) found AI is *increasing* prior-auth back-and-forth (an *"AI bot war"* between providers and payers) and enabling more aggressive coding intensity (upcoding risk). U.S. admin waste already runs **$250-500B/yr** (~25% of healthcare spend). - **Bull (5-10 years):** Kraus: *"Will this technology be deflationary? I'm pretty confident we will."* Compares current state to *"the first automobile."* Argues AI *"could save value-based care"* by improving DCF economics that fail today due to the 12-18 month payment lag after cost absorption. ### Debate 2: Can Direct Contracting Disintermediate Managed Care? - **Bull (Cuban / Becker):** "Cost Plus Wellness", no prior auth, no admin fees, ~30-day provider payment. Cuban claims hospitals may *lose money* on their biggest commercial payer contracts after denials/clawbacks. - **Bear (incumbent):** UNH's prior-auth simplification (May 5) directly counters the friction narrative; deep network effects, data scale, and regulatory moats remain hard to disintermediate at scale. ### Debate 3: Is the Lilly Foundayo Liver Signal Real? - **Bear:** Hepatic failure case in a 56-year-old male reported to FAERS Apr 30, stock down 3% pre-market. - **Bull (RBC, Wolfe):** Single case *"represents baseline noise, not a mechanistic safety signal"*; injectable GLP-1s have shown class-wide hepatic events driven by confounders in obese/T2D populations. Both firms reiterated Outperform; would *"be buyers on weakness."* ### Debate 4: Digital Health, Investable Sector or "Bad Neighborhood"? - **Public market skeptic:** Hinge Health trades at ~5x forward revenue (BofA) despite *"unbelievably well performing… super profitable."* A public buy-side investor literally asked Kraus whether digital health is *"a good company or just the best looking house in a bad neighborhood."* - **Private market bull:** Q1 2026 digital health funding hit **$4B across 110 deals**, 12 mega-rounds = 60% of total. But many privates raising at 10-20x forward, exit-path math is brutal absent a public market re-rate. ### Debate 5: Does Epic Have a Real AI Moat? - **Bear:** Northwell Health/Springer Nature meta-study (cited May 4), Epic out-of-the-box AI tools (deterioration, sepsis, readmission, end-of-life, no-show) all failed to surpass **AUROC 0.79**, with high false positives. 74% of health systems cite EHR dependency as a top AI-adoption barrier (Cuventus). - **Bull:** Epic's 42% acute-care EHR market share = data/distribution moat that point solutions can't replicate at scale. Sources: [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3DPFLd_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuwzZo6JxfbaX9oZF9b91hLcI-2BXIbRqzWd0wlJsgGM65JfSzlTuCNxloUxn8uwCXD1-2BsAvj-2FuBVXCimz7QOQDzPy-2BphwYktinA-2FAf2nenYrhlYBTApIpldQXNiSuUU8Q6OtQ-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3D4jZ__7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw6VR8i-2B3kLNyp0uCBbzb-2BlPTy4d-2FDEjwHPucbSe-2FANnaCk7iDHdFr732qftKbyJn96l1FjfF4E6dxjx0OosGV0EQyDCiDtgrjKzXf7UTcZ3MpmqfIboyfG5WjS4BpKiRPQ-3D-3D); MFNews LLY tape May 4, 2026. --- ```request-access variant: inline heading: Want this kind of synthesis on your own coverage? buttonText: Request access ``` ## 5. Emerging Themes 1. **"AI Bot War" in Prior Authorization** — Both providers and payers are deploying competing AI tools, *increasing* claim back-and-forth volume rather than reducing it. Inflationary near-term effect contrary to the deflationary thesis. 2. **GLP-1 Direct-to-Consumer Becoming Structurally Necessary** — Becker argues that running all GLP-1 prescriptions through PCPs at current volumes would be *"crushing the system."* DTC channels (Hims, Ro, Lilly Direct) aren't optional, they're load-bearing infrastructure. 3. **The "Generalist Specialist" Model** — Bob Kocher and Bob Wachter (Health Affairs Scholar, May 2026) propose AI could collapse narrow organ-specific specialties into disease-domain specialists (one AI-augmented clinician managing the entire cardiometabolic domain). Long-dated but enormously disruptive to specialty workforce economics. 4. **Patent-Cliff M&A Acceleration** — Big pharma racing to replace **>$300B in revenue facing LOE by 2028.** Q1 2026 biotech M&A hit $84B (best start since 2019). Sustained dealmaking pace through year-end likely. 5. **Tariff-Driven Premium Inflation** — Insurers (incl. Optimum Choice and UnitedHealthcare) have notified states of an additional **2.4-3.6%** hike on 2026 health insurance premiums *strictly* to account for anticipated pharmaceutical cost increases from the Trump admin's 100% pharma tariff. Direct flow-through to consumer. 6. **Site-of-Care Shift Driving Sustained ASC M&A** — Health systems *"really accelerating their investment in ASCs, outpatient centers."* Tenet/USPI and Optum/SCA are dominant consolidators; Surgery Partners flagged as a possible PE buy-out. 7. **Point-Solution AI Beating Bundled EHR AI** — Epic's poor AUROC scores create real opportunity for independent clinical decision-support startups. Sources: [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3Dg_E0_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw-2BQEFU61KqU6b6nrKvu8m9TOXBR6JhZUPDPvndbW5V5v6UOn6gYeIlE-2BBEzD7-2BOZh0vuBiLuND1QEjNXvGXFFf3tMd0F10tQwNNLHuZ6GEqz5dXU2JeK8g0EjTYwLFELlg-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DBA7__7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw58VQja-2F327IKSndZ-2ByH4-2Fx6KYPmUBwZXqeZM2C0AwLlDGunotENRFTqGY1LrP1DfL83NLzxbT2PNfkJ-2F8WKEgydtfJaaW3R3RgE3HAPQrtb8AnzUaF663OW3-2BEaiwzEwg-3D-3D); web research, [KFF on tariff-driven premiums](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NvxJKcyTXSqXgRt9o49DoF9s1ugAjV59E03C4713rA8-2FIuJGiAmJwZ3PbhaZVlmVO3E0GH0oztw5DWtYaXrINOJqCjMVf3djPRYd60wa2ABWZeRC_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw2d6QSyV077x1DFulow0ELiUMbAMSDvU5xjdwfgOtKJlZLTTuozlGzu4DLW3FoLC50zTliIiPFEbJHSqJl2Q75DM7MP0c-2FDc6cev3qWKpk6-2FP7VAejwpvvizQUgVeX-2BWqQ-3D-3D); [BioCentury M&A](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkAcKOUkckNo0zaJV7vCDDzr4452w2HgsqjlEIuc6-2FPBwqjxbHKXkB14XpcVOmO-2BbHh2lpCIk8CsxOIwjQvMV55LUI1V-2F2l7PUjBOfIvo2kQRRviLdzqHE3xquKwuf4HOT7H3KHYsqhwYKJQ7NK9jiw-3DU-_9_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw6qx7zS5taO7HlbBjz0TrF7PNF-2B9m0iLpCbWQlV24SIrMkC55v-2FnCBa0XozTxZPL-2FusiHjLbYpH9MTEqm6-2BKNtLnGqkUdG73b8nUokeVby5RICGbspDU0ZUOrn6F1-2F7x9g-3D-3D). --- ## 6. Deals & M&A Tracker | Date | Acquirer | Target | Value | Notes | | --- | --- | --- | --- | --- | | Closed Apr 27 | **BioMarin** | Amicus Therapeutics | **$3.65B** | Cements BMRN's rare-disease portfolio. | | Pending (close imminent) | **Ascension** | AmSurg (~250 ASCs) | **~$4B** | Pending final regulatory hurdles. | | Announced May 6 | **Bayer** | Perfuse Therapeutics | up to **$2.45B** | Phase 2 eye-disease prospect; Bayer's return to biopharma M&A. | | Recent | **UCB** | Candid Therapeutics | **$2B** | Reverse-merger hijack; entry into autoimmune T-cell engagers. | | Recent | **GSK** | SiranBio (metabolic oligonucleotide asset) | **~$1B** | Adds to metabolic pipeline. | | Recent | **Madrigal** | Arrowhead (MASH-focused biobucks deal) | **~$1B** | MASH pipeline build. | | Recent | **Eli Lilly** | Centessa (CNTA) | n/a | Mentioned in Alkermes Needham note (May 6); benefits ALKS comp set. | | Watch list | PE firms | **Surgery Partners (SGRY)** | TBD | *"Maybe that could be another ASC chain that might be up for sale down the line"* — Condon. | **Q1 2026 stat:** Biotech M&A deal value hit **$84B**, strongest start since 2019. Sources: [Eli Lilly Centessa note, May 6 (RX of Alkermes PT raise)](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NimV2Ie-2FSX-2Bb2XN-2Bmxz2vmM-3DnTKk_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw-2Bf2l15MGfuqiE6-2B4dlKyKaSQq-2FiFji5iHvzeWEz-2FN9vP-2FlgmbzsnxJ1O4ZeD-2FKp0rqGix2VRUE3NiyRY7eliezPvMkzZsDXM3Dxnolby-2BpKqG2Cay057mbatswEreq3-2Fw-3D-3D); [Bayer/Perfuse, May 6](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7Nqm7PLVDL2R-2BkZ0-2BTflodw-2BcLoWhhmpz-2Bdy5vydnsc0VmCYDi71iOx99Bl-2FtMC3i554EY3pgkT1Oux5uMQqwExPfMrbZAByxDY8VjBdZTSBBs4R5_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8fHYUwFLNKUecHkMYYJL-2FbL6HEOMkTJeyOdWxODQzuGhzPwXrwVjPQmH2Uld5Tum6-2BdnTkYzmqtXdbKtk8R86PYrPso3PHPKA9D3qZdB8BbesWEVHnuOZVEQi-2BoNIwgVA-3D-3D); [BioCentury — Big week for biotech M&A](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkAcKOUkckNo0zaJV7vCDDzr4452w2HgsqjlEIuc6-2FPBwqjxbHKXkB14XpcVOmO-2BbHh2lpCIk8CsxOIwjQvMV55LUI1V-2F2l7PUjBOfIvo2kQRRviLdzqHE3xquKwuf4HOT7H3KHYsqhwYKJQ7NK9jiw-3DRCI6_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw0rVG8AcyctCMjw5BoDDrOMI-2BvzuR2iXs7tAY6y0hE5mNX6DvxgV4tcogE7-2FxXTExKLEj9pAReL3u23LGnq-2FVKh1ksGjqHSkaDgpZqInl-2BPVSYUTmyusIOX7Cmg-2B0Pwofg-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DIFmp_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw1DwSXPL9hIW5k2E2YgvySlbzlBszOcg9YbhpJHq-2B85uKt0Y1TJQ4hr7t6oOafP2KSMnjTQsyyOoBkzJegbn7zdI8-2BIePE2b-2Fu4fhTIwv-2F1aDg6rGzNnBTzwfPxHn4Exgg-3D-3D). --- ```request-access variant: inline heading: Want this kind of synthesis on your own coverage? buttonText: Request access ``` ## 7. Regulatory Watch - **FDA 503B Bulks List (Apr 30):** Proposed excluding **semaglutide, tirzepatide, and liraglutide**, *"FDA did not identify a clinical need for outsourcing facilities to compound semaglutide, tirzepatide, and liraglutide from bulk drug substances."* Major positive for LLY/NVO branded volumes; negative for compound-heavy DTC players. - **FDA Foundayo FAERS Case (Apr 30 reported):** Single hepatic-failure case in a 56-year-old male; Lilly stated it is *"not reasonably related to Foundayo."* Watch for follow-up signals. - **OBBBA Implementation (in effect May 2026):** Expanded Medicaid coverage for GLP-1s rolling out this month under the "One Big Beautiful Bill Act"; Medicare Part D coverage slated for January 2027. Massive reimbursement tailwind for LLY/NVO. - **CMS "ACCESS" Model:** CMS Innovation Center launching outcome-aligned payments for technology-enabled chronic care in 2026. Pressure on health systems to evaluate technology partnerships. - **Trump Admin Pharma Tariffs:** 10% universal baseline + **100% tariff on imported patented pharma and APIs**; generic, biosimilar, and orphan drugs exempt. GE HealthCare reports reshoring/transfers offset *nearly half* of expected impact. - **Imcivree (Rhythm Pharmaceuticals, RYTM):** EU Commission approval (May 1) for acquired hypothalamic obesity, following recent US approval. - **MAHA / Peptides:** Push to legalize 19 peptides previously banned in 2023, Kraus calls out the irony given the same movement's vaccine skepticism *"with umpteen amounts of data."* Sources: [FDA 503B announcement](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NnOqKlXMknrnFC04y62-2Fcbxk-2BvQ8myoIhw66-2FEWm-2B6A9VJ7uaRTgZk5Yyr8bo6RcPlwEn-2Bzj5fShpAwz63O9ZQsL1auVm6-2FOh4uojMe12TI6sixazin7ISacCavDvXqleWFLm1-2FCsUbPq3KHPZKW9IsCnfv0yil9Kjn3RTic-2FnzOkaef_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw80YtRKuIasTBRSs9xVEWXZ9H2JUAS7u75dhsyHP6gBs-2BlcA4CAa7JKzoEiB5OjZ6wrDiJIY5hHPDS-2BBfPwSA9xXx6U3C45iLMKb0nqNHx2mJhTYOlyvG1ns6rBCtW5-2FFg-3D-3D); [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3DCbqn_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw2R1v-2FAhurMDXiIg-2Bb8WrwNWI04AbI7A2EbsH79EDgadgE-2BFXJyFSjK9rfWnyDpvAiHlOZcoIaxa3jCojbRwqww2CbnrdsDfTE-2FxoZKV2HxQrbV0pALJTMH665-2Fk0gTgGg-3D-3D); [advisory.com on premiums](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NubJNKBI89cq5B6F3WBwOGrJ0Dzphr2JjVF5KAEt5oKoJfZOY1M0pkCKG3toCTp-2F-2BgJYJKGImHaVZcOCktfEEWQ-3Dw_1p_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw6WBCeuM2p3-2BfSmvyJ5V-2FNXKYmK15hnz2lu4GZfaf8q125oKbK4eQkxkTKjARoBRQe5brpBHVtJOBRYySzvu7GnYEUVM8q6oSfTwMCWmJjoomtHlfaOaHnncYqjGPBNBLQ-3D-3D); [McDermott+ 2026 healthcare regulatory preview](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NiqY5FXHBkxATIdpGtsYowY8TdyhMPHuR-2FnfP8hX4kYa1rrKhDiIh7op0u0ab5ngxJhk97WG6AUc4-2F6J1sQnsATCZM3h6u7jSu17OLjcGQicKKIMX2I6K9LOkisb6OBOVQ-3D-3DubY4_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw3gTTAfF5yHGZfW9Dq6i9wkrq8o86aaQclCn9OmLH8o8ffHqjG0l6JvcjidpJf2-2FZiDHafXlIlP7N1-2FTvz4qPsOPTl8LMLiTM9cRRFIZYlzMn-2Fy8F8OfyEHD2-2FOUHSlwcg-3D-3D); MFNews LLY tape May 4, 2026. --- ## 8. Week Ahead **Catalysts and watchpoints for May 9-15, 2026:** - **Q1 earnings tail:** Continued reads from Tenet (THC), Cigna (CI), Merck (MRK), Bristol Myers (BMY), Cardinal Health (CAH), Caterpillar-adjacent device suppliers, particularly margin and tariff exposure commentary. - **GLP-1 prescription tracking:** Weekly script data critical post-FDA 503B move. Watch for Mounjaro/Zepbound and Wegovy share shift; oral Wegovy weekly Rx topped 207k in mid-April per web research. - **Foundayo follow-up:** Any additional FAERS case beyond the single May 4 report would meaningfully change the safety narrative. - **OBBBA Medicaid GLP-1 rollout:** First state-by-state coverage data in the back half of May. - **Surgery Partners (SGRY):** Watch for any PE bid chatter following Condon's commentary. - **Biotech M&A pace:** With $84B already done in Q1 and a "big week" the first week of May (per BioCentury), expect continued deal flow as patent-cliff replacement accelerates. - **Tariff impact in Q2 guidance:** Watch for additional medtech mitigation commentary (GE HealthCare, Becton Dickinson have signaled offsets); pharma input cost flow-through hits insurance premium notices. - **Macro:** Real yields and rate-cut path remain the swing factor for long-duration biotech and high-multiple medtech. Sources: [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3D_p_1_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw5mn9pgFAK7U7fbiSPTCOptKCUpVFxFJlAQjXWHXuWTTBIHMSdByi0IJPoUkxdUasEupuIr7oYfFVKXwZ9Jiv0ajhJTYiU3NI8UaiWqwvTbF9ZocdgkZuDs3XvYYmeNvHQ-3D-3D); [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DiStJ_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuwx03-2FvdWKG7uEQ-2Bhh-2FxDjU8wTdn0tPQ-2FfafNnRRK6622yPBnMPTf6Ib-2FetoZf288EiO35PDDJIE8X4hglFmhN9tSCcsz5XnqcRKO38TSyQrKBuNbIIfKWBSxfktH61mQPQ-3D-3D); MFNews LLY/UNH tape Apr 28 – May 6, 2026; web research, [tikr.com Wegovy pill data](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NsEllPJq-2BrMI3X2gdP455L-2Bpoc-2FTHozyoriucBHxdoMVeFXE-2Bs-2FzS-2FTW-2FwFIfPDbZ5s37XeVwUPxV6TrXmb4I-2Fq4AubMt-2BLc2OiSG98H55ksrifCgRlWr0oaZiUKuDksFg-3D-3D4Ogx_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw-2BVHeXKQ7WgZ-2FiN5n0ReDYdYEjT3RQqI2tQxyxAlrpdWdzvfw3qCrpmiBzrIL9NR-2FvNnJXkx-2FuX3iFTLH0AHYUaby1E06Psk1VvoGHmw-2BpqHJcoIudt1vRqpDJqtWiSnOg-3D-3D). --- ## Sources - [The Heart of Healthcare, May 4, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOhjV8PwwKCzWo8lI1VLpmAdm1KTfqfHp6lfxTSZCjv-2Bbw2hBP0urSGc3lMtZ56koLNAZ4abAqTsGkPeEcP2MBft3aWHnxHLWIlGyOFjSkzwmA-3D-3D0plN_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8CWK9uWRPfYMUjXfYyRUORfbFU-2FRn-2BTIxuNZ846XimzbzdUIfTFWz8p4bHzhQr5aRDNu0b5-2BiZllhb9vKmSkGqgYpDGchN3BAhCUmVIgoLc-2BpdNw7nZafPqA4o2yz7kJg-3D-3D) - [Becker's Healthcare Podcast, Apr 22, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkrIVb-2FgA4pmf2rMXQwGcOj-2FaivtEcSuK8fnTUNT6p1oP-2BOHuFTox0H3i8z8UAfONeWBgwVVhim6LQfImY7ULzOO2N8-2FEozgnFDPhFx3ownV7mcWRjJoWyhXwpEcEqzRjA-3D-3DYzTE_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw3K1bMAhH4EnyqZ5HoeFHDdK-2BcNLWLRVSNS6szaKlO3vkGhWjVV4lIHXISFwaxJWMW0V9pGlmVabP0NgxKniujJGY9Hi0tDIu7C675-2BUX-2FtjqXqNrSwpzWK7eDVZxc-2FEYg-3D-3D) - [Eli Lilly Q1 release, Apr 30, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NimV2Ie-2FSX-2Bb2XN-2Bmxz2vmM-3DMzQG_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8EO5cPtMp9zEewfSuKAl1G50TYR-2BoEaK8MiBMfnBfDFYsaYKKVN1Yi9F8CoxV8u4-2FTRx1rSRoXaQqVJnKpCmdVP4r7EivluqP-2Fa2Ejut7BHi3aCo9LlndS6cv-2Fy6SulBw-3D-3D) - [FDA 503B announcement, Apr 30, 2026](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NnOqKlXMknrnFC04y62-2Fcbxk-2BvQ8myoIhw66-2FEWm-2B6A9VJ7uaRTgZk5Yyr8bo6RcPlwEn-2Bzj5fShpAwz63O9ZQsL1auVm6-2FOh4uojMe12TI6sixazin7ISacCavDvXqleWFLm1-2FCsUbPq3KHPZKW9IsCnfv0yil9Kjn3RTic-2FnzOJ5Iz_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuwwaHQ-2B1ek-2FS2fFjvTyC6iTWPcqi-2BqL5YyztzoqWzjcPEDsDhoY6N5C35lSgdWxDzHRFNpsl4-2BjIj-2FmGpYKxt1xz99ABZAavxcIRIjX6MoMxi1IwPHFk2IJGxDwUWyzEjmg-3D-3D) - [KFF on tariff-driven premiums](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NvxJKcyTXSqXgRt9o49DoF9s1ugAjV59E03C4713rA8-2FIuJGiAmJwZ3PbhaZVlmVO3E0GH0oztw5DWtYaXrINOJqCjMVf3djPRYd60wa2ABWZeRC_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw2d6QSyV077x1DFulow0ELiUMbAMSDvU5xjdwfgOtKJlZLTTuozlGzu4DLW3FoLC50zTliIiPFEbJHSqJl2Q75DM7MP0c-2FDc6cev3qWKpk6-2FP7VAejwpvvizQUgVeX-2BWqQ-3D-3D) - [BioCentury — Big week for biotech M&A](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NkAcKOUkckNo0zaJV7vCDDzr4452w2HgsqjlEIuc6-2FPBwqjxbHKXkB14XpcVOmO-2BbHh2lpCIk8CsxOIwjQvMV55LUI1V-2F2l7PUjBOfIvo2kQRRviLdzqHE3xquKwuf4HOT7H3KHYsqhwYKJQ7NK9jiw-3DRCI6_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw0rVG8AcyctCMjw5BoDDrOMI-2BvzuR2iXs7tAY6y0hE5mNX6DvxgV4tcogE7-2FxXTExKLEj9pAReL3u23LGnq-2FVKh1ksGjqHSkaDgpZqInl-2BPVSYUTmyusIOX7Cmg-2B0Pwofg-3D-3D) - [Bayer/Perfuse, May 6](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7Nqm7PLVDL2R-2BkZ0-2BTflodw-2BcLoWhhmpz-2Bdy5vydnsc0VmCYDi71iOx99Bl-2FtMC3i554EY3pgkT1Oux5uMQqwExPfMrbZAByxDY8VjBdZTSBBs4R5_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw8fHYUwFLNKUecHkMYYJL-2FbL6HEOMkTJeyOdWxODQzuGhzPwXrwVjPQmH2Uld5Tum6-2BdnTkYzmqtXdbKtk8R86PYrPso3PHPKA9D3qZdB8BbesWEVHnuOZVEQi-2BoNIwgVA-3D-3D) - [advisory.com on premiums](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NubJNKBI89cq5B6F3WBwOGrJ0Dzphr2JjVF5KAEt5oKoJfZOY1M0pkCKG3toCTp-2F-2BgJYJKGImHaVZcOCktfEEWQ-3Dw_1p_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw6WBCeuM2p3-2BfSmvyJ5V-2FNXKYmK15hnz2lu4GZfaf8q125oKbK4eQkxkTKjARoBRQe5brpBHVtJOBRYySzvu7GnYEUVM8q6oSfTwMCWmJjoomtHlfaOaHnncYqjGPBNBLQ-3D-3D) - [McDermott+ 2026 healthcare regulatory preview](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NiqY5FXHBkxATIdpGtsYowY8TdyhMPHuR-2FnfP8hX4kYa1rrKhDiIh7op0u0ab5ngxJhk97WG6AUc4-2F6J1sQnsATCZM3h6u7jSu17OLjcGQicKKIMX2I6K9LOkisb6OBOVQ-3D-3DubY4_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw3gTTAfF5yHGZfW9Dq6i9wkrq8o86aaQclCn9OmLH8o8ffHqjG0l6JvcjidpJf2-2FZiDHafXlIlP7N1-2FTvz4qPsOPTl8LMLiTM9cRRFIZYlzMn-2Fy8F8OfyEHD2-2FOUHSlwcg-3D-3D) - [tikr.com Wegovy pill data](http://url7324.matterfact.com/ls/click?upn=u001.idHmPrr2Geh7KYLAsTy7NsEllPJq-2BrMI3X2gdP455L-2Bpoc-2FTHozyoriucBHxdoMVeFXE-2Bs-2FzS-2FTW-2FwFIfPDbZ5s37XeVwUPxV6TrXmb4I-2Fq4AubMt-2BLc2OiSG98H55ksrifCgRlWr0oaZiUKuDksFg-3D-3D4Ogx_7mLGwmUci-2BLaXswv9WX1yTgqn3Wad-2FotHhzHgSNAZbXQQV656sjRN7G9-2FheW-2BqaaUj-2FcsD1G4D-2FMmKrFD8cuw-2BVHeXKQ7WgZ-2FiN5n0ReDYdYEjT3RQqI2tQxyxAlrpdWdzvfw3qCrpmiBzrIL9NR-2FvNnJXkx-2FuX3iFTLH0AHYUaby1E06Psk1VvoGHmw-2BpqHJcoIudt1vRqpDJqtWiSnOg-3D-3D) --- ```request-access variant: banner heading: Run your own corpus. description: matterfact is deployed with select institutional partners. 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