Why Blackstone Is Betting on Costly Drug Trials

The video discusses the high-risk, high-reward nature of drug development and how Blackstone sees an opportunity in funding late-stage research for stalled drugs. It highlights the dynamics between large pharmaceutical companies and small biotechs, noting that even big players like Pfizer face financial constraints. Blackstone aims to position itself between these entities, leveraging private equity to capitalize on underfunded opportunities. The video also covers Blackstone's initial investment in a heart drug in partnership with Novartis, emphasizing the potential for significant returns despite inherent uncertainties.

Discuss the impact of private equity on the drug development landscape.

What is the significance of Blackstone's partnership with Novartis in their new business strategy?