annual J.P. The Morgan Healthcare Conference was held January 12-15, 2026 in San Francisco with more than 500 companies and 8,000 people in attendance. Deals worth approximately $8.3 billion were announced at the conference, with an emphasis on oncology, particularly PD-1/VEGF bispecific and antibody-drug conjugates, obesity market expansion and neurodegenerative disease treatments. Companies such as Eli Lilly, Novo Nordisk, Bristol Myers Squibb, AbbVie, Pfizer and others presented pipeline expansion strategies, selective deals and the use of artificial intelligence. Bristol Myers Squibb reported 17% year-over-year growth in its growth portfolio and 11 programs in late-stage clinical development, including Phase 3 for psychosis in Alzheimer's disease. Health systems emphasized stability and consistent performance in the context of Medicaid funding cuts. AI applications have improved clinical care, for example Tampa General Hospital reduced 48-hour sepsis mortality by 68% and Advocate Health prevented patient falls with sensors. Chinese innovation, obesity drugs and women's health were discussed as promising areas.