From the technology standpoint, the lifeblood of biotech and pharma, we’re seeing really a variety of emerging new highly disruptive first-in-class drugs including things like small molecule inhibitors for cancer stem cell, which really potential have the ability to someday reduce or maybe even eliminate radiation in chemotherapy. So, the outlook, we’re really entering a second wave for biotech’s successes and we’re extremely well-positioned as the leader in each of our key adjacency submarkets to take maximum advantage of this second wave expansion.Moving to the balance sheet and capital allocation. I think it’s clear and Dean will speak to this a bit. Our goal over time is as we’ve said is to operate in about the 6.5 times debt-to-EBITDA range, achieved through a variety of strategies including on boarding of additional NOI continued use of the ATM and pay down of debt, continued sales of selected non-income producing land parcels, you’ll see some coming up here in the third quarter, and we’ll likely see an equity partner for Asia operations to share CapEx for what we consider to be a big opportunity.
Alexandria Real Estate Equities' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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