In a near-future America gripped by skyrocketing drug prices and critical shortages, the FDA teeters on the edge of collapse. Janet Woodcroft, the agency’s enigmatic and fiercely pragmatic chief, balances on a razor’s edge—her secret decisions keeping tainted generics flowing from shadowy Indian factories to desperate U.S. patients. But when a whistleblower’s encrypted data drop lands in the hands of a relentless team of Bay Area tech journalists, the fragile web of secrecy unravels overnight. As blockchain evidence and AI-powered audits threaten to expose the FDA’s darkest compromises, Woodcroft must outwit both internal saboteurs and a global media firestorm, all while haunted by the specter of patient tragedies and the growing revolt within her own ranks. On the other side of the world, pharma titan Dilip Shandvi races to save his empire’s reputation, deploying cutting-edge surveillance and clandestine deals to keep his generics on U.S. shelves. Meanwhile, everyman kidney patient Joe DeMara becomes the unexpected face of America’s drug crisis, his fight for survival amplifying the stakes for millions. The story hurtles through secret FDA cabals, Silicon Valley hacktivists, and the labyrinthine politics of Congress, as alliances fracture and the line between innovation and exploitation blurs. At its core, "Gray Markets" asks: can technology force true accountability in a system built on shadows, or will entrenched power always find new ways to obscure the truth—no matter the cost? Inspired by: Threat in Your Medicine Cabinet: The FDA's Gamble on America's Drugs - https://www.propublica.org/article/fda-drug-loophole-sun-pharma

• (00:00) - Encrypted Shadows
• (04:21) - Strings Attached
• (09:04) - Dashboard Confessional
• (13:25) - The Tribunal’s Ledger
• (17:45) - Consensus Algorithm
• (25:30) - Credits