For years, the J.P. Morgan Healthcare Conference (JPM) kicked off with splashy headlines of major M&A activity among biopharma companies, but in 2026, the hype outweighed reality and in the end, no major merger announcements were made during the conference for companies developing therapeutics.
At the Biotech Showcase 2026 – part of the broader hoopla in San Francisco surrounding the J.P. Morgan 2026 Healthcare Conference – a panel of investors and another of pharma dealmakers discussed what to expect from drug company deals in 2026. The calendar flipping marks a good time to look ahead, but the delineation doesn’t really change anything for dealmakers who have experienced a slow shift in attitudes of investors over the last few months that will likely continue into the year ahead.
With rumors regarding a couple of potential mega-mergers making the rounds, the week of the annual J.P. Morgan Healthcare Conference kicked off with the official disclosure of some billion-dollar collaborations, leading with Abbvie Inc.’s exclusive licensing deal with Remegen Co. Ltd. for PD-1/VEGF-targeted bispecific antibody RC-148.
Hisamitsu Pharmaceutical Co. Inc. President and CEO Kazuhide Nakatomi is leading a management buyout to take the company private, citing mounting drug pricing pressures and tougher listing requirements on the Tokyo Stock Exchange.
News of Eli Lilly and Co. purchasing Ventyx Biosciences Inc. for $14 per share arrived after market close Jan. 7, following unconfirmed rumors of the buyout that drove shares up by more than 52% at one point.
Confirmed news of Eli Lilly and Co. purchasing Ventyx Biosciences Inc. for $14 per share arrived within a day of swirling rumors that drove shares of the San Diego-based biopharma company up by more than 52% at one point on Jan. 7.
Amgen Inc. has swooped on two European cancer specialists, buying Dark Blue Therapeutics Ltd. for up to $840 million plus royalties, and sealing a $618 million license agreement with Disco Pharmaceuticals GmbH for rights to a novel cancer cell surface target.
Biopharma industry zeal for obesity therapeutics does not appear to be dying down any time soon, with Eli Lilly and Co. entering a $1.3 billion deal with Nimbus Therapeutics LLC for a new small molecule, and Arrowhead Pharmaceuticals Inc. rolling out phase I/IIa data of its RNAi therapeutics used in combination with Lilly’s GLP-1/GIP receptor agonist tirzepatide.
Securing a second major partnership with Sanofi SA – this time worth a potential $2.56 billion – Earendil Labs will provide its AI-driven discovery platform to find new therapeutics for autoimmune and inflammatory diseases.
After raising $292 million in its Hong Kong IPO, AI discovery and development biotech, Insilico Medicine, signed an R&D collaboration with French pharma Servier SA valued at $888 million to discover and develop innovative oncology therapies by combining Insilico's AI-driven drug discovery platforms with Servier's global expertise in cancer drug development.
RSS
