That's my bet as well, but not because Anthropic couldn't become Eli Lilly on intellectual/intelligence grounds.

The regulations, liability, and stringency of procedure in pharmaceuticals and healthcare in general simply won't gel with the SV mindset of "move fast and break things"/"forgiveness is easier to get than permission". A University of Missouri pathologist working with Jon Carreyrou put a SV biotech darling in literal prison despite a huge valuation. That sort of accountability is the exact thing founders seek to avoid, not court.