Antoine Papiernik

They are annoying noise.

And when you have noise, you know, I've got tinnitus, you know, and when I think about my tinnitus, it's annoying, but, you know...

It's noise, right?

And this is why you need to go back to the fundamentals.

And the fundamentals are amazing.

First of all, you know, our companies save people's lives.

I'm sorry, it's slightly cheesy to say this, but that's the truth.

And at the end of the day, I always say, and probably you heard me say this, people die and they would rather not.

That is just the reality of our business.

Our population are getting older, they're getting sicker, they need new drugs to solve their issues.

And that is why our industry is a huge defensive industry in an environment where things are changing so fast.

And of course, the pharma industry, but that's

more tactical.

I mean, you need to start with the fact that the needs, there's no one who can claim that there's no market for the drugs that are being developed by biotech.

No one can say this because it's just so obvious.

Now, the pharma industry, you know, I don't know, $3, $4 trillion of turnover.

I can't remember how much it is, but it's big.

And, you know, I've been pitching to PatentCliff for 20 years, telling my investors, don't worry, you see PatentCliff is going to come and pharma will ultimately buy it.

Well, it's here, right?

Every analyst in the business knows, has calculated from, you know, BMS to Pfizer to all these companies.