Pharma

“I think BCI is a category, kind of like how pharma is a category. I think sometimes you, I'll talk to VCs and like, oh, we have a BCI bet. Like, do you have a drug bet? You made one bet on a drugs? Like, that's that, that's how you think about the category.”

“Pharma is a two trillion dollar industry. Of that trillion dollar, only a hundred billion dollars is in drug discovery, so this early stage. A hundred bill out of two trillion is a tiny fraction”

“Science is not really a bottleneck in, in most cases. Getting, there's plenty of great research out there, and there are many ways researchers are discovering molecules, but getting from a great research paper to an actual drug that helps treat patients and ge…”

“There are many types of BCIs. So it's, there, it really is going to be a category like pharma. It's not one product. I don't think there's going to be like the VCI that people get. And there are different modalities that will work for different things.”

“Oh man, I think peptides are going to be so disruptive to our current healthcare system. You know, I think that if you look at peptides there needs to be way more research. I'm like, not totally yet a peptide believer. But there needs to be way more research, …”

“So I think there are certain categories of science where there is just a much more mature demand side market for the outputs of research. And examples include, of course, life sciences and pharma the chemicals industry facets of the material science industry. …”

“We've seen this huge uptick in pharma going to China and buying molecules that they typically would have bought from American biotechs.”

“They can generate data to train their own models at a scale that most biotech startups can't match.”

“I think while it's early on sort of the agentic how we work side, I think you're going to see very unique models come out of pharma where their computational scientists are building interesting predictive models that, you know, similar to what's happening in t…”

“And so I think we need to, like, pharma is the most strategic and important one that we need to build up, because it's the one that also, we had the highest safety standards in the world for leading it.”

“In pharma, all our, we have no enduring franchise. Everything we make goes to zero because of the patent system.”

“There will be specialist models that emerge to help in things like in pharma, right? The creation of new drugs in material sciences for advanced materials.”

“Even though that's a big cost center, that is actually kind of like a good place for business right now, because you can sell better media, cheaper media ingredients to pharma today.”

“I think there's sometimes this, like, unfair caricature that people in pharma, like, don't know how to turn on a computer and that the industry just, like, doesn't believe in technology and so forth. I don't think belief in the technology is, like, lacking. I …”

“The energy is like pharma. If you're a tourist, you're probably going to get your face ripped off. And if you don't know a component piece of the energy ecosystem, or maybe the second and third layer of the onion, you can really miss something really bad.”

“The sort of spicy take on it is maybe not as much as they think. You know, because the temptation is the data's there, and this may be true for pharma too, may be true for pair of providers that, that data, there's a lot of it, but it might not be as good as t…”

“I don't think it's because of malice. I don't think it's because pharma is some kind of evil, you know, group trying to kick over the world. They're doing their thing, and everyone is. Doctors are. Institutions are. So I don't assign any malice.”

“Pharma as a whole of the medical pie only occupies about 13% of revenue.”

“I think pharma is investing way more in deep learning than people realize.”

“So we don't have any investments in biotech or pharma or anything like that simply because we don't have a knowledge or understanding where we are confident we can make that investment for our clients.”

“46% of the advertising on TV news comes from pharma”

“In Louisiana, when I, my first year as secretary, when I started to take on this issue, There were three lobbyists hired for every legislator in my state. Pharma.”

“And now, in the back half of this decade again, you're going to have these big patent expirations, and it's on higher revenue basis. So there is tremendous pressure in the industry for those companies to try to mitigate Those patent expiries and do deals.”

“So I would say those biotech companies, so the, of the targets the ones that are, that have the best seat in the house are the ones that are developing drugs that have the potential to move the needle for a pharma. So it has to be a blockbuster drug and is in …”

“90% of healthcare costs come from physicians. 10% come from pharma.”

“If CMS and Medicare go and really crunch those costs, what is pharma going to do? Well, pharma is going to do what is the obvious thing, which is like, if you're going to cap what I can make, I have to completely change my R and D model. And they're just going…”

“I would say my sort of falsifiable prediction would be that we're going to start seeing more and more biotechs make drugs that they try to commercialize themselves as opposed to selling to pharma to do the commercialization.”

“So we've got, like, on the order of, what, a hundred, maybe 200 pharmas looking to make these M&As. So it means a hundred to 200 chief scientific officers are dictating what does.”

“The majority of kind of applications and investment in biotech broadly is still related to pharma.”

“Today about 70% of innovative drugs are coming out of small biotechs. They're still largely being commercialized by pharma through either acquisition or through a partnership”

“And so I think pharma in the last 20 years had jettisoned their R&D efforts to focus on distribution of brand.”

“Investors like me are saying, don't sell yourself. Don't partner. You don't need them. I'll give you the money. Go at it alone. Build out commercial. Become your own standalone company, and many, many more are going that path, and I think that they don't need …”

“And you can think about a category that I think is going to have the same type of growth over the next 10 to 20 years and has had the same type, if not more, Moore's law effects. It's life sciences, biotech, pharma.”

“I gotta say though, being in the healthcare industry and knowing folks who've worked in pharma, knowing folks who've worked in hospital and other large systems and insurance companies, most people are working there not for profit, but for personal reasons and …”

“The reason they exist is that pharma is not good at R&D. These little firms all do R&D. They do drug discovery on the path to drug commercialization, and what we find, you know, they exist because pharma isn't good at it, and the capital markets have figured o…”

“I think the buyer psyche changed too, specifically in the fourth quarter where across all sectors of the market saw a downturn in, in trading, but I think the buyer universe actually strengthened across pharma.”

“I think pharma is in the process of making a similar shift. For many years, until even relatively recently, they were one of the full, one of the few fully integrated industries in the sense that they did everything in house from discovery through the end of a…”

“If you look at the last 10 years, the research headcount in pharma has gone down by five or six percentage points per annum, so they're half as big internal research, but now what they've done is created external R&D groups, so they're out shopping, and we hav…”

“One of the really interesting things about reproducibility we've learned is that it's been extremely resonant in industries where there are regulatory and compliance concerns, and we're sort of seeing that more and more, especially in financial services, they'…”

“So about 40% of all R&D spending from pharma is oncology based.”