A16Z · 13 November 2026 · Investment Thesis

Big Pharma Can Rival Big Software

A16Z

AI is reshaping drug discovery economics by improving success rates and reducing development time and cost, potentially enabling pharma companies to earn "valuation credit" like software businesses and spawning a wave of AI-native biotech startups building discovery platforms or their own therapeutics.

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Topics: Biotech & Life Sciences · AI Infrastructure · Healthcare

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