Think about how many VC's probrably still have DNA from years ago and many of the biotech funds etc. I'd bet that a majority goes back into biopharma. DNA had a market cap as large as the entire biotech space minus the otehr top 5 bios(AMGN $55b, GILD $43b, CELG $23b, GENZ $16b, BIIB $14b) ($360 - $100 - $150 = $110b)
"Market capitalization, the total value of publicly traded biotech companies (U.S.) at market prices, was $360 billion as of late April 2008 (based on stocks tracked by BioWorld)"
So the $50b in cash coming from the other 1/2 of DNA is a substantial amount = to 20% of the entire bio index or nearly 50% of everything other then the top 5. Anyway you slice it - it's a substantial % of the biotech pie that will be floating around in cash looking for the next DNA.
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