JPM26 Day 1 Live Blog: Slow Deal Flow Amid Optimism at J.P. Morgan Healthcare Conference

The 44th Annual J.P. Morgan Healthcare Conference (JPM26) began January 12-15, 2026, in San Francisco, with Day 1 featuring light deal activity despite pre-conference transactions by Eli Lilly, GSK, and Roche.12

Executives from Sofinnova, Biogen, and others noted subdued M&A on Day 1 but expressed optimism for announcements later in the week, describing it as 'work as usual' with strong interest in investments.2

Key highlights included Nvidia and Eli Lilly announcing a $1 billion AI co-innovation lab in the Bay Area, and discussions on AI revolutionizing healthcare via clinical reasoning and efficiency.126

BMS CEO highlighted a portfolio of blockbuster hopefuls, Novartis outlined 12 registrational readouts for 2026-2027 (none in oncology), and Biogen celebrated EU approval for high-dose Spinraza.24

Industry sentiment indicates companies are 'looking around' despite small initial deal flow, with focus on AI integration, immunology, and strategic partnerships.12

Sources:

1. https://www.jpmorgan.com/about-us/events-conferences/health-care-conference

2. https://www.fiercebiotech.com/biotech/fierce-biotechs-jpm26-tracker-day-1

4. https://www.fiercepharma.com/pharma/fierce-pharmas-jpm26-tracker-day-1

6. https://www.axios.com/pro/biotech-deals/2026/01/12/jpmorgan-healthcare-news