The Top Line JPM26: Sunshine, AI and the deals that weren't
18 snips
Jan 23, 2026 Angus Liu, a biopharma reporter who tracks M&A and AI trends, and Zoey Becker, a pharma journalist covering industry shifts, unpack JPM highlights. They note a quieter conference with fewer mega-deals. They discuss widespread AI buzz without clear drug outcomes. They compare deal timing, disclosure rules, and China’s rising biotech presence.
AI Snips
Chapters
Transcript
Episode notes
JPM Felt Quieter Than Usual
- JPM felt unusually quiet this year with far fewer mega-deals than expected around the conference.
- The lack of headline M&A raises questions about whether JPM's role as a deal-timing moment is changing.
JPM Timing Boosts Industry Confidence
- Companies often time big announcements to land at JPM to give the industry a confidence boost.
- The absence of such deals this year could signal tougher timing or weaker conditions for biotech M&A.
Shorter Runways Change Deal Dynamics
- Biotech cash runways are shortening, making it harder to orchestrate big-ticket deals around JPM.
- Material disclosure rules also prevent companies from delaying news simply to fit a conference timeline.