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Stock Watch: J.P. Morgan Conference, Big Splash News And Stock Prices

2023 Fell Short Of High-Impact Years

 
• By Andy Smith

Timing big M&A transactions to coincide with the biggest investor conference of the year is difficult. But getting it right can boost stocks across the sector.

Stock Watch Image, Andy Smith
ANDY SMITH OFFERS A LIFE SCIENCE INVESTOR'S PERSPECTIVE ON BIOPHARMA BUSINESS

Despite the announcement of three significant M&A deals on the first day of this year’s J.P. Morgan Healthcare Conference, the boost to health care stocks that often accompanies the meeting has not yet materialized.

While the first day of 2023’s conference was heralded by the acquisitions of CinCor Pharma, Inc. by AstraZeneca PLC, Amryt Pharma plc by Chiesi Farmaceutici S.p.A. and Albireo Pharma Inc. by Ipsen SA, their $4.2bn total value paled in comparison to the bigger ticket conference openers of previous years. The three late- or commercial-stage acquisitions on one day also had few implications for the plethora of early-stage companies and their investors who will wait years and endure more dilution before reaching that stage

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