Obesity Treatments, M&A Activity To Take Center Stage During Upcoming JPM Healthcare Conference
Obesity Treatments, M&A Activity To Take Center Stage During Upcoming JPM Healthcare Conference
Ahead of the 2025 JPM Healthcare Conference, JP Morgan highlights some investor expectations as sentiment remains mixed for the US Large Cap BioPharma group heading into 2025. The conference is scheduled between 13 January and 16 January.According to JP Morgan, U.S. large-cap biopharma stocks have underperformed the broader market for two consecutive years, with mixed sentiment shaping investor outlook for 2025.
根據摩根大通的說法，美國大型生物製藥股票在連續兩年中表現不佳，市場情緒對2025年的投資者展望產生了混合影響。
Despite strong fundamentals and advancements in drug pipelines, factors such as political uncertainty and sector rotation have hindered the sector's performance relative to the S&P 500.
儘管基本面強勁、藥物管線不斷進展，但政治不確定性和板塊輪動等因素抑制了該板塊相對於S&P 500的表現。
In 2024, biopharma stocks rose by 9.6%, falling short of the S&P 500's 28.5% surge. However, JP Morgan analysts maintain a positive outlook for several key players.
在2024年，生物製藥股票上漲了9.6%，未能趕上S&P 500的28.5%的強勁增長。然而，摩根大通的分析師對幾家關鍵企業仍持積極展望。
Ahead of the 2025 JPM Healthcare Conference, JP Morgan highlights some investor expectations as sentiment remains mixed for the US Large Cap BioPharma group heading into 2025. The conference is scheduled between 13 January and 16 January.
在2025年JP摩根醫療會議之前，JP摩根強調了一些投資者的期望，因爲對美國大盤生物製藥集團的情緒在2025年到來之際仍然是混合的。會議定於1月13日至1月16日舉行。
Obesity is expected to remain a major focus for the industry. The sector's focus on the below advancements highlights the growing importance of obesity treatments and related drug innovations:
肥胖被預計將繼續成爲行業的主要焦點。該板塊對以下進展的關注凸顯了肥胖治療和相關藥物創新日益重要性：
- Eli Lilly And Co (NYSE:LLY): Increased emphasis on incretin therapies as production capacity grows and direct-to-consumer advertising gains traction. Key data catalysts: Phase 3 results for orforglipron, an oral small molecule GLP-1.
- Initial outcomes data for tirzepatide in type 2 diabetes.
- 禮來（紐交所：LLY）：隨着生產能力的增長以及直面消費者廣告的興起，增加對肽類療法的重視。關鍵數據催化劑：口服小分子GLP-1或福戈戈爾的三期結果。
- tirzepatide在2型糖尿病中的初步結果數據。
Several new product launches are on the radar for 2025. Bristol Myers Squibb & Co (NYSE:BMY) stands out as a top pick, with the anticipated launch of Cobenfy for schizophrenia.
預計2025年將有幾款新產品推出。百賽瑞（紐交所：BMY）作爲熱門選擇，預計將推出用於治療精神分裂症的Cobenfy。
JP Morgan analyst Chris Schott expects a strong adoption once broader insurance coverage, expected by the second half of 2025, is in place.
摩根大通分析師克里斯·肖特預計，一旦更廣泛的保險覆蓋到位，預計到2025年下半年，將會有強勁的採用。
Gilead Sciences Inc (NASDAQ:GILD) is also preparing for a mid-2025 launch of lenacapavir for pre-exposure prophylaxis, with promising uptake projected into 2026.
吉利德科學公司（納斯達克：GILD）也在爲2025年中期推出預接觸預防藥物lenacapavir做準備，預計到2026年會有良好的市場接受度。
Additionally, JP Morgan is monitoring Merck & Co Inc's (NYSE:MRK) Winrevair for pulmonary arterial hypertension, which has already exceeded early expectations, and Gilead's Livdelzi for primary biliary cholangitis, expected to see more significant growth in 2025 as access improves.
此外，摩根大通正在關注默沙東（紐交所：MRK）的Winrevair用於肺動脈高壓，這一藥物的早期表現已經超出了預期，以及吉利德的Livdelzi用於原發性膽汁性膽管炎，預計隨着可及性的改善，2025年將會有更顯著的增長。
The analyst is watching for updates on how companies are approaching business development after a relatively quiet 2024. While major changes are not anticipated in the size or type of deals pursued by large-cap companies, JP Morgan expects M&A activity to pick up in 2025.
該分析師正在關注公司在相對安靜的2024年後如何推進業務發展的最新動態。雖然大型公司的交易規模或類型的重大變化不被預期，但摩根大通預計2025年的併購活動將會有所增加。
Large deals over $25 billion remain unlikely, with mid-sized deals around $5-15 billion likely to focus on later-stage, lower-risk assets.
超過250億的重大交易仍不太可能，預計500億到150億的中型交易將專注於後期、低風險的資產。
- Sanofi's Blood Cancer Drug's New Subcutaneous Formulation Hits Primary Goal In Late-Stage In Multiple Myeloma
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Image via Shutterstock
圖片來源：Shutterstock
譯文內容由第三人軟體翻譯。