AbbVie has agreed to pay nearly $5 billion for the rights outside China to RemeGen’s PD-1/VEGF bispecific therapy, while Novartis has made a $1.5 billion deal with SciNeuro Pharmaceuticals, a company based in China, focused on Alzheimer’s disease. These transactions were announced as the 2026 J.P. Morgan Healthcare Conference began on Monday. Experts interviewed by BioSpace indicated that cancer and neuroscience will continue to be key areas of interest this year.
Attendees at the conference are still waiting for a major merger or acquisition announcement. Merck CEO Rob Davis said during his presentation that the company is considering deals worth “multi tens of billions of dollars.”
Eli Lilly and Novo Nordisk both provided updates on their efforts in weight loss treatments. Lilly expressed confidence in its supply chain as it prepares to launch its obesity pill orforglipron, while Novo Nordisk noted ongoing business losses due to competition from compounders.
The initial public offering (IPO) market showed signs of activity just before the conference, with Aktis Oncology going public last week and Veradermics and Eikon Therapeutics announcing plans to follow. Last year saw a similar brief increase in IPOs before investor concerns about policy changes led to another slowdown.
Flagship CEO Noubar Afeyan highlighted significant challenges facing the industry in his annual letter, including declining support for scientific methods in the United States and rapid growth in China’s biopharma sector. Although funding is increasing, it is mainly directed toward later-stage companies. A report from J.P. Morgan released ahead of the conference found that venture capital funding decreased across all stages last year, especially for early-stage biotech firms.
While attention was focused on JPM, the U.S. Food and Drug Administration (FDA) remained active. The FDA recently asked Eli Lilly and Novo Nordisk to remove suicide warnings from certain GLP-1 drug labels after a review found no increased risk of suicidal thoughts or behavior associated with these medications. The agency also continued efforts to speed up cell and gene therapy development by introducing new manufacturing exemptions.
