<p><img src="https://imageproxy.pbkrs.com/https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/01/shutterstock_2536823279-430x241.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="430" height="241" original-src="https://imageproxy.pbkrs.com/https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/01/shutterstock_2536823279-430x241.jpg"/></p>
<p>在 2026 年 JP 摩根醫療會議的第一天，關於期待中的 “超級交易” 的消息缺席，定價和政策成為議程的焦點。圖片來源：Tang Yan Song/Shutterstock.com</p>
<p>在 2026 年 JP 摩根醫療會議的第一天（1 月 12 日）結束時，投資者和製藥高管在舊金山聚集，指出迄今為止缺乏備受期待的 “超級交易”。但他們也表示，當前的市場動態為交易的發生提供了激勵。</p>
<p>新聞報道表明，Revolution Medicines 和 Abivax 正在進行收購談判，但截至 1 月 13 日，沒有公司確認這些報道。與此同時，像 AbbVie 和 Remegen 或諾華與 SciNeuro 之間的許可交易，為大型製藥公司開發和收購新資產以增強其產品線提供了途徑。</p>
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<p>在舊金山舉行的生物技術展示活動中，Ipsen 的外部創新與研究高級副總裁 David Jenkins 表示，這家中型公司看到更多的交易活動。Ipsen 故意不與大型製藥公司在 100 億美元以上的交易中競爭，但在較小的範圍內競爭更為激烈，主要是因為公司需要填補產品線，他補充道。</p>
<p>其他宏觀因素繼續推動交易的需求和激勵。在同一活動的另一場討論中，Foley Hoag 醫療部門的合夥人兼聯合主席 Thomas Barker 表示，生物製藥行業面臨的最大監管或政策挑戰之一是對藥品定價的關注。他表示，隨着該行業監督前拜登政府實施《通貨膨脹削減法案》（IRA）以及不同的定價模型（如最惠國（MFN）策略），似乎特朗普政府在此方面 “加倍努力”。</p>
<p>PhRMA 的首席運營官 Lori Reilly 表示，遊説組織對藥房福利管理者（PBMs）和 340B 藥品定價計劃的改革呼聲是當務之急，以應對患者在藥房櫃枱的高成本。Reilly 強調了最近的 美英協議，根據該協議，英國國家健康服務（NHS）將為創新藥物支付 25% 的淨價格，作為向美國以外國家發出更多醫療創新支出的信號，但她補充説，與一個國家達成協議不足以實現價格的平衡。</p>
<p>儘管像 CRISPR 療法等科學技術正在推動領域的發展，Barker 表示，科學的進步可能 “遠遠快於政府應對科學變化的能力”。需要政策變化來促進國內創新，幾位在此次討論中的發言者提到來自中國的研究所帶來的迫在眉睫的威脅。</p>
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<p>Fritz Bittenbender，BIO 董事會主席和 Genentech 高級副總裁表示，需要一個考慮監管計劃、政策變化和製造的戰略計劃。他補充説：“不能僅僅對中國説不。我們必須在創新方面與中國競爭並獲勝。”</p>
<p>在此註冊以接收來自 2026 年 JP 摩根醫療會議的最新醫療行業趨勢的每日更新 <em>在會議後註冊以獲取全面報告</em>](https://www.pharmaceutical-technology.com/jpm-healthcare-conference-insights-2026/) _。</p>

榮昌生物

艾伯維

<p>在 2026 年摩根大通醫療會議上，討論的重點是藥品定價和監管變化，預期中的大型交易卻顯著缺席。投資者注意到，目前的市場動態鼓勵較小的許可交易，例如艾伯維與榮昌生物之間的交易。專家強調了《通貨膨脹削減法案》的影響，以及對藥品福利管理者進行改革的必要性，以應對高昂的患者費用。會議強調了政策變化在促進創新和與中國新興研究競爭中的重要性</p>

<p><img src="https://imageproxy.pbkrs.com/https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/01/shutterstock_2536823279-430x241.jpg" alt="" original-src="https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/01/shutterstock_2536823279-430x241.jpg"/></p>
<p>Absent of news around anticipated “mega-deals”, pricing and policy set the agenda at the first day of the 2026 JP Morgan Healthcare conference. Credit: Tang Yan Song/Shutterstock.com</p>
<div class="lb-trans"><p>在 2026 年 JP 摩根醫療會議的第一天，關於期待中的 “超級交易” 的消息缺席，定價和政策成為議程的焦點。圖片來源：Tang Yan Song/Shutterstock.com</p>
</div><p>At the first day of the 2026 J.P. Morgan Healthcare conference concluded on 12 January, investors and pharma executives gathered in San Francisco remarked on the absence of highly anticipated “mega-deals” thus far. But they also indicated that current market dynamics are providing an incentive for deals to take place.</p>
<div class="lb-trans"><p>在 2026 年 JP 摩根醫療會議的第一天（1 月 12 日）結束時，投資者和製藥高管在舊金山聚集，指出迄今為止缺乏備受期待的 “超級交易”。但他們也表示，當前的市場動態為交易的發生提供了激勵。</p>
</div><p>News reports have suggested Revolution Medicines and Abivax are in talks to be acquired, but no company has confirmed these reports as of 13 January. In the meantime, licensing deals — like between AbbVie and Remegen, or Novartis and SciNeuro — are providing a pathway for big pharma to develop and acquire new assets to strengthen their pipelines.</p>
<div class="lb-trans"><p>新聞報道表明，Revolution Medicines 和 Abivax 正在進行收購談判，但截至 1 月 13 日，沒有公司確認這些報道。與此同時，像 AbbVie 和 Remegen 或諾華與 SciNeuro 之間的許可交易，為大型製藥公司開發和收購新資產以增強其產品線提供了途徑。</p>
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</div><p>During a discussion at the Biotech Showcase event, also held in San Francisco, David Jenkins, SVP and head of external innovation and research at Ipsen, said the mid-sized company has seen a lot more deals activity. Ipsen is deliberately not competing in the same space as the larger pharma companies for $10bn+ deals, but in the smaller ranges there is more competition, largely because companies need to fill pipelines, he added.</p>
<div class="lb-trans"><p>在舊金山舉行的生物技術展示活動中，Ipsen 的外部創新與研究高級副總裁 David Jenkins 表示，這家中型公司看到更多的交易活動。Ipsen 故意不與大型製藥公司在 100 億美元以上的交易中競爭，但在較小的範圍內競爭更為激烈，主要是因為公司需要填補產品線，他補充道。</p>
</div><p>Other macro factors are continuing to drive the appetite and incentive for deals. At another discussion in the same event on 12 January, Thomas Barker, partner and co-Chair of the healthcare department at Foley Hoag, said one of the biggest regulatory or policy challenges facing the biopharmaceutical industry is the focus on drug pricing. As the sector oversaw the implementation of the Inflation Reduction Act (IRA) under the former Biden administration and different pricing models like Most Favoured Nation (MFN) in the mix, he said it seemed as if the Trump administration has “doubled down”.</p>
<div class="lb-trans"><p>其他宏觀因素繼續推動交易的需求和激勵。在同一活動的另一場討論中，Foley Hoag 醫療部門的合夥人兼聯合主席 Thomas Barker 表示，生物製藥行業面臨的最大監管或政策挑戰之一是對藥品定價的關注。他表示，隨着該行業監督前拜登政府實施《通貨膨脹削減法案》（IRA）以及不同的定價模型（如最惠國（MFN）策略），似乎特朗普政府在此方面 “加倍努力”。</p>
</div><p>Lori Reilly, COO at PhRMA, said the lobbying organisation’s calls for reforms on pharmacy benefit managers (PBMs) and 340B drug pricing programs are the need of the hour to address high costs for patients at the pharmacy counter. Reilly highlighted the recent US-UK deal, under which the UK’s National Health Services (NHS) would pay 25% in net prices more for innovative medicines, as a way to signal ex-US countries to spend more on medical innovations, but added that an agreement with one country is insufficient to equalise prices.</p>
<div class="lb-trans"><p>PhRMA 的首席運營官 Lori Reilly 表示，遊説組織對藥房福利管理者（PBMs）和 340B 藥品定價計劃的改革呼聲是當務之急，以應對患者在藥房櫃枱的高成本。Reilly 強調了最近的 美英協議，根據該協議，英國國家健康服務（NHS）將為創新藥物支付 25% 的淨價格，作為向美國以外國家發出更多醫療創新支出的信號，但她補充説，與一個國家達成協議不足以實現價格的平衡。</p>
</div><p>While scientific technologies like Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) therapies to treat sickle cell anaemia are moving the field forward, Barker said the science may be advancing “far more rapidly than the ability of the government to address changes in science”. Policy changes that foster domestic innovation are necessary, and several speakers at this discussion noted the looming threat of research emerging from China.</p>
<div class="lb-trans"><p>儘管像 CRISPR 療法等科學技術正在推動領域的發展，Barker 表示，科學的進步可能 “遠遠快於政府應對科學變化的能力”。需要政策變化來促進國內創新，幾位在此次討論中的發言者提到來自中國的研究所帶來的迫在眉睫的威脅。</p>
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</div><p>A strategic plan is needed that considers regulatory plans, policy changes, and manufacturing are needed for the US, said Fritz Bittenbender, Board Chair at BIO and senior vice president at Genentech. “It can’t be just no to China. It has to be: we have to compete and win against China in terms of innovation,” he added.</p>
<div class="lb-trans"><p>Fritz Bittenbender，BIO 董事會主席和 Genentech 高級副總裁表示，需要一個考慮監管計劃、政策變化和製造的戰略計劃。他補充説：“不能僅僅對中國説不。我們必須在創新方面與中國競爭並獲勝。”</p>
</div><p>Sign up here to receive daily updates <em>on the latest healthcare industry trends emerging from the JP Morgan Healthcare conference 2026.</em> Sign up here to receive a comprehensive report <em>after the conference.</em></p>
<div class="lb-trans"><p>在此註冊以接收來自 2026 年 JP 摩根醫療會議的最新醫療行業趨勢的每日更新 <em>在會議後註冊以獲取全面報告</em>](https://www.pharmaceutical-technology.com/jpm-healthcare-conference-insights-2026/) _。</p>
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摩根大通第 26 屆會議：第一天——藥品價格和政策變化主導議程