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246: Vas Narasimhan on the future of pharma, plus Moderna’s promise & a biotech presidential bid

The Readout Loud

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Biotech - What's the Challenge in M&A?

I wanted to ask you, I mean, speaking of the divestitures, that's led to you all carrying quite a bit of cash on your balance sheet. You're looking at things that you might purchase in biotech, but keeping it at a limit of about $5 billion per transaction. How come and what does the field of targets look like at that price and how did that strategy come about? Damon: Right now where we see the biggest opportunity to find value is in this kind of sub $5 billion, I would say mid-stage development space.

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