A number of key topics were discussed at the J.P. Morgan Healthcare Conference in San Francisco, including innovation from China, advances in neuroscience, renewed interest in early-stage science, and a notable absence of major mergers and acquisitions at the start of the event. The lack of a significant buyout led attendees to consider new ways to measure success for what is considered one of the industry's most important annual meetings.
Sanofi CEO Paul Hudson commented on the state of vaccine business development and M&A: "Buying vaccine biotech Dynavax was an easy choice for Sanofi despite anti-vaccine moves by the Trump administration."
Former European Trade Commissioner Phil Hogan and former U.S. Senator Richard Burr participated in a panel discussion, encouraging participants to look beyond recent political disruptions. "At JPM26, Experts Try To Look Past the Most Favored Nation ‘Distraction’," they said, referencing efforts to see broader industry trends amid what they described as a year marked by chaos and confusion during the Trump administration.
Several biotechnology companies highlighted their focus on regulatory alignment with the FDA following a challenging year. Beam Therapeutics, Cabaletta Bio, and others stressed agreement with regulators on clinical trial design and approval pathways. Atara expressed frustration over what it called a “complete reversal of position” by the agency after its therapy for a rare surgical complication was rejected.
A Verizon outage during conference week caused logistical challenges for attendees navigating Union Square and nearby hotels.
Obesity treatments were another central topic at the conference. Discussion focused on how new therapies could distinguish themselves as prices decline. Eli Lilly and Novo Nordisk were among the most anticipated speakers regarding obesity treatments. Representatives from Novo Nordisk spoke with BioSpace about their ongoing search for deals after ending their attempt to acquire Metsera. Pfizer also promoted its own plans related to obesity therapies during its presentation.
Novartis BD Chief Ronny Gal told BioSpace that Novartis does not feel pressure about lacking a GLP-1 or weight loss portfolio.
In addition to scientific developments, issues related to leadership diversity were visible at the event. Women leaders and allies gathered in Union Square dressed in pink as part of an initiative organized by Biotech CEO Sisterhood and Breaking 7% to promote greater representation in biopharma leadership roles. Attendance at this annual photo event doubled compared to previous years.
Company profiles featured discussions about strategic decisions across several organizations:
- Bristol Myers Squibb is focusing on early-stage investments while much of pharma pursues late-stage assets.
- Protagonist faces a $400 million decision.
- Biohaven is preparing for increased competition after a difficult 2025.
- Gilead highlighted positive results from Yeztugo and updates in HIV research.
- Galapagos introduced its new CEO with plans for organizational change.
- KalVista reported progress with HAE treatments targeting different markets.
- Biogen is working to expand its presence in Alzheimer’s disease following Leqembi’s launch.
- Korro Bio continues efforts toward financial stability.
- AbbVie seeks recognition for its oncology pipeline after acquiring RemeGen.
- Merck remains confident about growth prospects despite upcoming loss of exclusivity for Keytruda.
- AstraZeneca outlined ambitions to reach $80 billion in revenue by 2030 through antibody-drug conjugates (ADCs), cell therapies, and near-term product launches.
