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A Muted J.P. Morgan, But The Focus Is Execution – And That's Good News

 
• By Jessica Merrill

A lack of deal news at the J.P. Morgan Healthcare Conference didn't excite investors, but industry is confidently executing on focused strategies as it welcomes a new decade. The persistent overhang is US drug pricing and political uncertainty.

Golden Gate Bridge at sunrise in San Fransisco, CA
There were lots of takeaways from the J.P. Morgan Healthcare conference • Source: Shutterstock

The atmosphere at the J.P. Morgan Healthcare Conference was muted this year, without any big deal news, or any substantial news at all. At first the quiet opening on 13 January was unsettling, but over the course of the meeting the undercurrent shifted to a sense that the pharmaceutical industry is on solid footing as it moves into a new decade, executing on focused business strategies.

The dust has settled on 2019, when several sizable mergers were announced or closed – Bristol-Myers Squibb Co. and Celgene Corp., AbbVie Inc. and Allergan PLC, Takeda Pharmaceutical Co. Ltd. and Shire PLC, Mylan NV and Pfizer Inc.'s Upjohn, and Roche and Spark Therapeutics Inc., for example. Investors were hoping J.P. Morgan would start the year off with a similar buzz as last year, when Eli Lilly & Co. announced the $8bn acquisition of Loxo Oncology Inc.

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