Advertise on podcast: PwC's Next in Health

From the JPM Healthcare Conference in San Francisco, Glenn Hunzinger brings together Sunil Patel of Merck and Sumit Khedekar of Citigroup for a conversation about where growth in the pharmaceutical and biotech industry is headed over the next five to ten years. They explore how scientific innovation, global sources of capital and talent, and a more forward looking approach to risk taking are shaping the future of healthcare, and why this moment may be pivotal for patients and the industry alike. Discussion highlights: Scientific innovation and unmet patient need remain the primary drivers of long term growth across pharma and biotechGlobal sources of innovation, including China, are reshaping licensing strategies and competitive dynamicsCompanies are increasingly willing to take calculated risk earlier in the drug development lifecycleValue creation depends on entering assets at the right inflection point rather than waiting for fully de risked launchesPayer dynamics, pricing pressure, and evolving consumer expectations are influencing how drugs are developed and commercializedSpeakers: Glenn Hunzinger, US Health Industries Leader, PwC Sunil Patel, SVP, head of corporate development and business development & licensing, Merck  Sumit Khedekar, Global head of Healthcare Investment Banking, Citigroup This episode is also available as a video on our website: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast/where-will-growth-emerge-across-healthcare.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Join Glenn Hunzinger and James Woods as they discuss what to expect for medtech dealmaking in 2026, including why buyers are poised to return, how technology is reshaping portfolios, and where investors are focusing to drive future growth. Discussion highlights: Medtech M&A is expected to rebound in 2026 as market conditions improve and capital remains availableBuyers are staying selective, prioritizing assets that support durable growthTechnology and data enabled solutions are key drivers of deal activityTuck in and bolt on acquisitions continue to dominate, with private equity playing an active roleSurgical robotics, AI, cardiovascular, and diagnostics remain areas of strong interestSpeakers: Glenn Hunzinger, US Health Industries Leader, PwC James Woods, US Medtech Deals Leader, PwC Linked materials: https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Join Glenn Hunzinger and Dan Farrell as they discuss why 2026 could mark a rebound year for health services dealmaking—driven by higher-quality assets, improving market conditions, and the growing role of technology and AI. They explore how investors are rethinking value creation, from tech-enabled care models to carve-outs and IPOs.   Discussion highlights: Stronger earnings, cash flows, and tech-enabled platforms are drawing buyers backAI is shifting from a value enhancer to a key driver of margins and valuationCarve-outs remain active as health systems and corporates divest non-core assetsInvestors are targeting opportunities across specialties, home-based care, and AI-enabled platformsReopening IPO markets and improved exit options are boosting confidence for 2026  Speakers: Glenn Hunzinger, US Health Industries Leader, PwC Dan Farrell, US Health Services Deals Leader, PwC Linked materials: https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger and Roel van den Akker share their outlook for pharmaceutical and life sciences dealmaking in 2026. They discuss improving market conditions, innovation driven growth, and how upcoming loss of exclusivity is shaping deal strategy.    Discussion highlights:  Strong innovation, healthy balance sheets, and improving capital markets support a positive outlook for 2026 M&A is expected to remain precision-led and asset-focused, centered on differentiated science and key therapeutic areas Accelerating loss of exclusivity (2026–2029) is increasing reliance on external innovation Mid-sized deals have dominated, but clearer policy and better financing may enable larger strategic transactions As innovation globalizes, companies are sourcing assets more deliberately worldwide, with the US remaining a core life sciences hub  Speakers: Glenn Hunzinger, US Health Industries Leader, PwC Roel van den Akker, US Pharmaceutical & Life Sciences Deals Leader, PwC Linked Materials: https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

What will healthcare look like a decade from now? Host Glenn Hunzinger is joined by Greg Rotz, Pharmaceutical and Life Sciences Advisory Leader and Thom Bales, Principal, Health Services Advisory Leader, as they dive into the future of health—one driven by smarter tech, empowered consumers, and breakthrough science. From reimagining chronic care to building new business models, discover the mindset, partnerships, and capabilities that will define the next era of healthcare. Discussion highlights: A trillion-dollar shift: who gains and who falls behindThe rise of the super consumer and personalized careWhy experience design will become core to life sciencesHow health orgs can prepare with “no regrets” strategic movesCollaborating across the ecosystem to drive faster, better, cheaper care  Speakers: Glenn Hunzinger, US Health Industries Leader, PwCGreg Rotz, Pharmaceutical and Life Sciences Advisory Leader, PwCThom Bales, Health Services Advisory Leader, PwC Linked materials: From breaking point to breakthrough: the $1 trillion opportunity to reinvent healthcare For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader, sits down with Nichole Montgomery, Shannon O’Shea, and Phil Sclafani to unpack the sweeping implications of the newly signed One Big Beautiful Bill Act (OBBBA). With nearly a third of the bill dedicated to healthcare, the team explores how this landmark legislation will reshape coverage, funding, and delivery across the payer, provider, and pharma landscape. Discussion highlights: The OBBBA introduces new work requirements and eligibility rules that could lead to coverage loss for over 13 million people, placing new burdens on payers and statesProviders face increased uncompensated care, especially in rural areas, with added administrative complexity and a push toward technology and alternative care modelsPayers are bracing for membership loss, reduced Medicaid funding, and increased administrative load as new eligibility rules take effectPharma may see reduced demand from public programs but gains through an orphan drug exemption and incentives for domestic manufacturingThe bill’s sweeping changes will disrupt healthcare, but with foresight, organizations can model financial impact, prepare for operational disruption, and plan strategic responsesSpeakers: Glenn Hunzinger (host), Health Industries Leader, PwCShannon O'Shea, Principal, Health Transformation, Provider Clinical Transformation, PwCPhil Scalfani, Principal, Customer Transformation, Pharmaceutical & Life Sciences, PwCNichole Montgomery, Principal, Health Transformation, Health Services, PwCLinked Materials: https://www.pwc.com/us/en/industries/health-industries/library/impact-of-obbba-on-us-health-system.html  https://www.pwc.com/us/en/industries/health-industries/health-policy-and-intelligence-institute.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader, connects with Nick Donkar, PwC’s U.S. Health Services Deals Leader, and Roel Van den Akker, PwC’s Pharma and Life Sciences Deals Leader, to discuss the 2025 midyear deals outlook across health services and pharma and life sciences. They explore how macroeconomic trends, regulatory pressures, and evolving investment strategies are shaping M&A activity and where new opportunities may emerge as companies look ahead to the second half of the year.    Discussion highlights:   Health services deal volume remains resilient, with renewed investor interest in behavioral health, physician groups, and home-based care modelsPrivate equity firms are focused on outpatient growth platforms and niche services like revenue cycle management to navigate cost and regulatory headwindsPharma and life sciences dealmaking is centered on targeted, asset driven M&A in the $1 to $5 billion range, rather than full scale platform acquisitionsRegulatory uncertainty from FDA resource constraints to evolving policies on pricing and probability of technical and regulatory success (PTRS), is complicating deal modeling and slowing transaction timelinesU.S. biopharma companies are increasingly sourcing early stage innovation from China, introducing new strategic opportunities along with cross border compliance and data challengesSpeakers: Glenn Hunzinger, Health Industries Leader, PwC Nick Donkar, US Healthcare Deals Leader Roel Van den Akker, US Pharma & Life Sciences Deals Leader   Linked materials: https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader, and Phil Scalfani, PwC’s Pharmaceutical and Life Sciences Consulting Leader, discuss the Trump administration’s executive order on Most Favored Nation (MFN) drug pricing and its far-reaching implications across the healthcare ecosystem. They break down what MFN pricing could mean for pharmaceutical companies, payers, PBMs, and the broader drug supply chain, and share perspectives on how organizations can navigate the uncertainty ahead.    Discussion Highlights:  The MFN executive order is a bold attempt to lower U.S. drug prices by benchmarking them against the lowest prices paid in other high-income countriesPharma companies may be forced to rethink global pricing strategies, balancing U.S. price cuts with potential increases or market exits abroadA proposed shift to direct-to-consumer drug access could disrupt traditional roles for pharmacies, distributors, and pharmacy benefit managers (PBMs)Companies are preparing for significant uncertainty by reassessing deals, modeling financial impacts, and closely monitoring upcoming rulemaking and potential legal developmentsSpeakers: Glenn Hunzinger, Health Industries Leader, PwC Philip Sclafani, Partner, Pharma & Life Sciences, PwC Linked materials: Most Favored Nation prescription drug pricing Executive Order For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader, connects with Matt Rich, PwC’s Pharma and Life Sciences R&D Leader, to unpack the recent disruption at the FDA and what it means for the pharmaceutical and biotech sectors. They discuss how companies can stay agile in the face of regulatory uncertainty, avoid preventable delays, and take practical steps to move programs forward with clarity. Discussion highlights: Ongoing restructuring at the FDA is creating uncertainty and delays in drug and device approvals, with wide-ranging impacts across the pharma, biotech and medtech landscape.While companies can’t control the regulatory environment, they can focus on improving internal speed, efficiency, and submission quality to keep programs moving forwardAvoiding preventable missteps, or “foot faults,” in data, endpoints, and submission packages is critical to reducing review delays and regulatory pushbackDiversifying risk by pursuing parallel regulatory pathways in other regions such as Europe and Japan can help accelerate access and reduce dependency on a single agencyIn the absence of a clear playbook, companies should focus on what they can control by applying past lessons, staying disciplined, and collaborating across the industry to support more efficient FDA review processesSpeakers: Matt Rich, PwC’s Pharmaceutical and Life Sciences R&D Leader Glenn Hunzinger, Partner, Health Industries Leader, PwC Linked materials: Navigating the FDA disruption: 4 key actions for pharma For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader and Roel van den Akker, PwC’s Pharma and Life Sciences Deals Leader discuss the rapid rise of China’s biotech industry and what it means for U.S. pharmaceutical companies. They discuss the evolving role of Chinese biotech in the global innovation landscape and share perspectives on how U.S. pharmaceutical companies can thoughtfully assess opportunities, manage cross-border complexities, and build effective partnering and diligence strategies.    Discussion highlights: China’s biotech industry is growing fast and becoming a global player, with U.S. companies increasingly looking to partner with Chinese firms on cutting-edge scienceU.S. pharma leaders are encouraged to move beyond skepticism and stay curious by building relationships, learning from local innovation, and exploring new partnership opportunitiesSuccessfully partnering with Chinese biotech firms requires a careful and well-structured approach that accounts for global complexity, protects data and IP, and uses creative deal structures like new company formations to manage risk and stay flexibleU.S. companies need to be proactive in order to stay competitive by actively exploring global innovation, understanding the risks, and having a clear strategy to bring high-potential science to U.S. patientsSpeakers: Roel Van den Akker, Pharmaceutical and Life Sciences Deals Leader  Glenn Hunzinger, Partner, Health Industries Leader, PwC Linked materials: China's rise as a biotech innovation hub: 4 key strategic questions for US biopharma executives For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Disclaimer: This episode was recorded on April 11th, 2025, and reflects the information available at the time of recording. As we know, America is in motion here, and so subsequent updates may not be reflected in this discussion as things continue to evolve and change.  Tune in as PwC specialists from across the health industry share their insights on how recent policy shifts under the Trump administration could shape healthcare in the years to come. In this episode, Glenn Hunzinger, Jenny Colapietro, and guests Kelly Griffin, Phil Sclafani, and Ruchita Kewalramani break down the potential implications of proposed government healthcare cuts, tariff policy and agency workforce reductions, along with the growing role of AI in the industry. They also discuss how pharma, medtech, payers and providers can stay ahead amidst the uncertainty.  Discussion highlights: Proposed funding cuts to major government healthcare programs like Medicare, Medicaid, and NIH could significantly disrupt access, affordability, and service delivery across the healthcare landscape.Workforce reductions at federal agencies like the Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), and Health and Human Services (HHS) may slow drug approvals, diminish oversight, and impact public health standards.New and evolving tariff policies are creating cost pressures across pharmaceutical and medtech supply chains, with potential downstream impacts on pricing, R&D, and patient access.The rapid adoption of AI in healthcare is creating new opportunities across diagnostics, R&D, and operations, while also raising concerns around governance and data privacy.To stay ahead, industry leaders must assess risks, strengthen agility, and uncover opportunities to innovate in today’s dynamic environment.Speakers: Kelly Griffin, Director, Health Policy Intelligence Institute, PwC Ruchita Kewalramani, Partner, Health Services PwC Phil Sclafani, Partner, Pharma & Life Sciences, PwC Glenn Hunzinger, Partner, Health Industries Leader, PwC Jenny Colapietro, Principal, Consulting Commercial Leader, PwC Linked materials: Health Policy and Intelligence Institute For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as PwC's Pharmaceutical & Life Sciences Advisory Leader, Greg Rotz reflects on key market dynamics and explores how pharma leaders can tackle challenges including the $400 billion patent cliff, increasing competition, drug pricing pressures, and transformative disruptions shaping the industry. Discussion highlights: Understanding the scale and implications of the upcoming patent cliff and economic pressures from regulatory changes like the Inflation Reduction ActExamining heightened competition across therapeutic areas and the rapid emergence of rival treatments affecting market economicsHighlighting the necessity for bold strategic moves and critical capabilities, including AI innovation, portfolio optimization, strategic partnerships, and comprehensive risk managementAddressing disruptive forces such as geopolitical uncertainty, tariff impacts, and the rise of global innovation influencing pharmaceutical marketsEmphasizing the urgency for pharma leaders to embrace innovation and transformative strategies to improve healthcare affordability, accessibility, and qualitySpeakers: Greg Rotz, Pharmaceutical & Life Sciences Leader,PwC Glenn Hunzinger, Health Industries Leader, PwC Jenny Colapietro, Consulting Commercial Leader, PwC Linked materials: Next in pharma 2025: The future is now Pharmaceutical and life sciences: US Deals 2025 outlook President Donald J. Trump’s healthcare agenda For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as PwC specialists discuss the 2025 healthcare outlook, reflecting on 2024’s significant events and exploring how payers and providers can navigate rising costs, scrutiny, AI advances, and policy shifts with resilience and adaptability.  Topics include: Medicare and Medicaid drive industry growth amid rising competition, market exits, M&A, AI adoption, and policy challenges.AI's potential to enhance healthcare delivery, improve workforce management, and optimize patient care.The care-at-home market is growing rapidly, driven by demand and cost efficiency, but sustainability remains a challenge.Encouragement for healthcare organizations to adapt and innovate in response to policy shifts and technological advancements.Speakers: Thom Bales, Health Services Leader, PwC Alena Taylor, Principal, PwC Ruchita Kewalramani, Principal, PwC Glenn Hunzinger, Health Industries Leader, PwC Jenny Colapietro, Consulting Commercial Leader, PwC Linked materials: Next in Health: The 2025 Outlook for Health Services: https://www.pwc.com/us/en/industries/health-industries/library/healthcare-trends.htmlHealth Policy and Intelligence Institute: https://www.pwc.com/us/en/industries/health-industries/health-policy-and-intelligence-institute.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in to listen as PwC’s leaders Roel van den Akker and Nick Donkar provide insights into the 2024 deals landscape and offer a preview of what lies ahead. Topics include: Key topics include: A look back at M&A activity in health industries in 2024The challenges and potential impediments that could affect deal volumes in the coming yearHow artificial intelligence and tech innovations are reshaping the volume and nature of healthcare transactionsKey trends and developments to watch for with emphasis on growth, strategic assessments and regulatory factors Speakers: Roel van den Akker, Pharmaceutical and Life Sciences Deals Leader, PwC Nick Donkar, Health Services Deals Leader, PwC Jenny Colapietro, Consulting Commercial Leader, PwC Linked materials: https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.htmlhttps://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Tune in as authors of PwC's U.S. Healthcare Climate Survey discuss key findings and provide insights into understanding healthcare organizations' responses to climate change, the integration of climate strategies, and the challenges faced in implementation. Key topics include: The survey's background, focus, and objectives that address the prioritization of climate strategies by healthcare organizations in response to climate change impactsDifferences in climate strategy approaches across sectors, reveals significant disparities in priorities and operational needs amongst payers, providers, pharmaceutical, and medtech companiesKey statistics and insights on organizational behavior and perceptions related to climate strategy integration, sustainability, and the impact on human healthConsiderations for healthcare stakeholders to enhance climate strategy implementation and address the evolving needs of diverse communities affected by climate change Speakers: Mackenzie Daly, Partner, PwC Stacie Gitkin, Director, PwC Jenny Colapietro, Consulting Commercial Leader, PwC Linked materials: https://www.pwc.com/us/en/industries/health-industries/library/impact-of-climate-change-on-human-health.html For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.