The Future of Biotech

When was the last time that a 40 or $50 billion plus biotech or pharmaceutical company was started? Outside of Moderna, which I've used, was almost like an accident of COVID. If you add up all of the biopharma suitorical industries market cap, J&J, Eli Lilly, Amgen, Genentech, et cetera,. Pfizer, all the thousands of public biopharma companies add up to roughly the top four or five tech companies in terms of market cap. But healthcare is 20% of GDP. This is insane if you think about it.

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