Deals And Sunshine At J.P. Morgan, But Biopharma Outlook Remains Mixed

Initial excitement over a few small deals announced at the opening of J.P. Morgan tapered off as approaching exclusivity losses, a lack of big takeouts and political uncertainty weighed on sentiment.

J.P. Morgan 2025
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Key Takeaways
  • Deal announcements on the opening day of J.P. Morgan weren’t enough to sustain investor enthusiasm through the annual business meeting.
  • Investors remain concerned about big upcoming LOEs, a scarcity of financing for biotechs and uncertainty stemming from a change in presidential administration.
  • Industry dealmakers said the meeting was more subdued than prior years.

The J.P. Morgan Healthcare Conference got off to a rousing start with the announcement of several deals on the first day, but the overall tone of the meeting was subdued...

Sunshine and blue skies were a pleasant change from the typical rainy J.P. Morgan backdrop, but that didn’t translate into a celebratory atmosphere on the streets around San Francisco’s Union...

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