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JPM 2026

Day-by-day digests and cross-day synthesis from the 44th J.P. Morgan Healthcare Conference (San Francisco, January 12–15, 2026) — the largest healthcare investor conference of the year.

Caveat: Unlike the Nextflow and AACR vaults (which have primary transcripts and abstracts), JPM is invite-only — there are no public transcripts. Every claim in these pages is one degree removed from the room, synthesized from trade-press reporting (STAT, Fierce Biotech / Pharma / Healthcare, Endpoints, BioPharma Dive, Evaluate, Pharmaceutical Technology, Clinical Trials Arena, BioSpace) and primary company press releases. Inline citations on every page so claims can be traced.

Start here

  • Themes & takeaways — cross-day synthesis, the five recurring threads, surprises worth flagging, tool/asset index, predictions.

Per-day digests

Talk-by-talk summaries with company, deal terms, therapeutic area, and "why it matters" notes:

Digest Date Highlights
Day 1 (Mon) 2026-01-12 Lilly–NVIDIA $1B AI lab; AbbVie–RemeGen $5.6B PD-1×VEGF; Novartis–SciNeuro Alzheimer's; BMS, Pfizer, Amgen MariTide, Sarepta, Biogen, BridgeBio, Moderna
Day 2 (Tue) 2026-01-13 AZ acquires Modella AI; Novartis–Zonsen PepLib radioligand; AZ $80B/2030; Novo oral Wegovy; Gilead anito-cel; GSK 15 launches; Roche; BioNTech
Day 3 (Wed) 2026-01-14 AbbVie post-Humira runway; Sanofi vaccine policy; Novo M&A appetite; Regeneron M&A discipline; Gilead virology; Legend Carvykti profitability
Day 4 (Thu) 2026-01-15 Boston Scientific–Penumbra $14.5B (only megadeal of the week); Yancopoulos interview; Hengrui ($16B out-licensing); IPO outlook; Clover; end-of-week recap

At a glance

  • ~$8.3B in announced JPM-week deals (Pharmaceutical Technology)
  • $14.5B Boston Scientific / Penumbra — only true megadeal (medtech, Day 4)
  • $1B Lilly–NVIDIA AI Co-Innovation Lab — largest pharma–AI infrastructure commitment ever announced at JPM
  • Up to ~20 biotech IPOs forecast for 2026 if windows hold (HSBC's Jonathan Norris); <12 priced in 2025
  • No pharma megamerger — the dominant week-end framing was "all the meetings, none of the megadeals"

Source aggregators

These hubs aggregate the entire week: