Eli Lilly and Amazon announce deal at JPMorgan conference | Wilnesh News

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Good afternoon from San Francisco! This week, Ashley and I will be participating in the annual JP Morgan Healthcare Conference – America’s largest gathering of biotech and pharmaceutical executives, investors and analysts

The conference heralds what the healthcare industry may look like in 2025. prospects.

It’s worth noting, given that this year’s conference appears to have heightened security around the main venue, the Westin St. Francis Hotel Brian Thompson was killedThe chief executive of UnitedHealth Group’s insurance arm in New York in December. There appeared to be a heavy police presence around the hotel, with a metal barrier at the venue’s entrance flanked by several private security guards checking attendees’ badges.

Meanwhile, a group of protesters waited outside the venue, holding protest placards. insurance industryfaced Outbursts of suppressed anger and frustration Since the killings, the public has stopped paying attention.

As usual, the conference kicked off with a few deals, including one of the largest we’ve seen since late 2023.

Here’s a quick review of what I’ve seen so far in the biotech and pharma space:

• Johnson & Johnson The company thrust itself into the spotlight on Monday when it announced it would acquire Intra-Cellular Therapies, maker of blockbuster drugs to treat schizophrenia and depression, for $14.6 billion. With most, if not all, deals in the biotech and pharmaceutical space expected to exceed $5 billion in 2024, Johnson & Johnson’s acquisition appears to have boosted M&A sentiment in the new year, especially under a potentially deal-friendly Trump administration Down.

• Eli Lilly and Company The drug giant said on Monday it would acquire an experimental cancer program from startup Scorpion Therapeutics in a deal worth up to $2.5 billion as the drug giant expands its oncology pipeline. The company will acquire Scorpion’s experimental oral therapy STX-478, which is currently in early-stage trials in breast cancer and other advanced solid tumors.

• GSK It also announced a $1 billion acquisition of IDRx, another private cancer drug developer, on Monday. Agreement provides GlaxoSmithKline with an experimental treatment for rare gastrointestinal cancer

• modern on Monday Lowers 2025 sales guidance The company’s costs fell by about $1 billion due to some potential headwinds later this year, including increased competition in the Covid vaccine market as the biotech company continues to cut costs.

• Eli Lilly and Company cut on tuesday income guidance Because the company said demand for its weight-loss and diabetes drugs wasn’t meeting its high expectations.

Please feel free to send Annika any tips, suggestions, story ideas and data: annikakim.constantino@nbcuni.com.

Hello from San Francisco! I’m reporting live from the J.P. Morgan Healthcare Conference, where it’s a balmy 50 degrees, which is a welcome change for New Yorkers.

There have been a series of announcements here. Perhaps not surprisingly, artificial intelligence and a blockbuster weight-loss drug called GLP-1 have become hot topics.

Here’s everything you need to know so far:

• Amazon Internet services On Monday, General Catalyst announced a new partnership aimed at accelerating the development and deployment of artificial intelligence tools for healthcare. General Catalyst’s portfolio companies, starting with Aidoc and Commure, will use AWS to build new solutions for healthcare systems faster. Read CNBC’s report here.

• Weixing Announced a new generative artificial intelligence feature designed to help hospitals quickly respond to insurance denials by automatically drafting appeal letters. Health systems spend nearly $20 billion each year trying to overturn denied claims, so Waystar believes its new tool can help cut those costs. Read CNBC’s report here.

• NVIDIA declare Partnerships with multiple healthcare organizations include clinical research provider IQVIA, neurotechnology startup Synchron, genomics company Illumina and academic medical center Mayo Clinic. Nvidia Vice President of Healthcare Kimberly Powell told CNBC that partnerships are a key pillar of Nvidia’s healthcare business, which generates more than $1 billion in revenue annually.

• Dexcon release Preliminary, unaudited results The fourth-quarter report was released on Monday, about a month ahead of schedule. The company reported revenue of at least $1.11 billion, up 8% from the same period last year. Dexcom said it expects total revenue to reach $4.6 billion in 2025, a 14% increase from the total revenue expected in 2024. The results sent Dexcom shares up more than 6% in premarket trading on Monday, a welcome sign for investors after several funding rounds. rocky area.

• Abridged Tuesday declare Mayo Clinic will roll out artificial intelligence-driven clinical documentation technology to approximately 2,000 clinicians across the enterprise. The company has made similar announcements across the enterprise Duke Health and Johns Hopkins University Medicine in recent weeks.

• Traddock Health on Monday declare Amazon is adding the company to its Health Benefits Connector, which helps customers determine whether digital health plans are covered by their insurance plan or employer benefits. Teladoc’s chronic disease products, including diabetes, hypertension, prediabetes and weight management programs, will be available to eligible users through the Health Benefits Connector.

It’s only Tuesday, which means there’s more to do. Be sure to follow our coverage all week long!

Please feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.

Booming demand for GLP-1 Promoting employer-driven diabetes and nutrition consulting practices like Virta Health and Omada Health. Large employers are increasingly requiring employees who start taking high-cost diabetes and weight-loss drugs to participate in programs to help them learn how to maintain weight loss after they stop taking GLP-1.

A trend to watch: When employers take advantage of nutritional plans, they sometimes receive lower treatment rebates from pharmacy benefit managers and manufacturers, according to the Health Buyers Business Group.

Please feel free to send any tips, suggestions, story ideas and data to Bertha at bertha.coombs@nbcuni.com.