While stock markets toyed with all-time highs despite the impeachment of the president, over on the West Coast things were less rosy. There was a plethora of announcements to coincide with the first few days of the 2020 J.P. Morgan Healthcare Conference, but in retrospect it was naive to expect the acquisition pace of December 2019 to continue into January 2020. The rare big acquisitions that have headlined or preceded previous conferences, like those of Celgene Corp. and Actelion Pharmaceuticals Ltd. were absent and failing to fill this void was the news on clinical, commercial and regulatory events. (Also see "Bristol/Celgene A Record-Setting Merger, If It Happens" - Scrip, 4 January, 2019.) (Also see "J&J’s $30bn For Actelion Buys Immediate And Longer-Term Value" - Scrip, 26 January, 2017.)
J.P. Morgan Stockwatch: No Substitute For M&A
Clinical, Regulatory, Commercial News Fails To Ignite Shares
Stock market reaction to the first day’s news from the 38th J.P. Morgan Healthcare conference in San Francisco was negative, probably because expectations for a continuation of December’s bumper M&A bonanza were too high.
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