STAT Washington correspondent Rachel Cohrs joins us to explain how PhRMA, the all-powerful lobbying group, lost its edge in a fight over drug-pricing negotiation. Damian gives us the inside scoop on CTAD, the big Alzheimer's disease research conference, where Eisai and Biogen presented groundbreaking data on their treatment called lecanemab. We also discuss the FDA approval of a microbiome drug for the treatment of a bowel disorder and the potential for a big acquisition of Horizon Therapeutics.