pharma

“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…”

“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 …”

“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 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 …”

“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.”