On Monday, The Westin St. Francis San Francisco on Union Square was bustling with well-dressed professionals from early morning. They were attending the world’s largest pharmaceutical and biotech investment event, the 44th J.P. Morgan (JPM) Healthcare Conference.
While San Francisco is infamous for its homeless population and open drug trade, the area surrounding the JPM venue was brimming with healthcare companies eager to strike big deals.
Running from Tuesday through to Thursday, this event serves as a nexus for pharmaceutical companies hunting for promising new drug technologies and investors seeking to learn about cutting-edge advancements from biotech ventures. This year, approximately 1,500 pharmaceutical and biotech companies from across the globe have converged, with thousands in attendance, earning it the moniker the Super Bowl of the biotech industry.
The event garners significant corporate interest because on-site meetings often yield tangible results. Korean companies have also achieved notable successes in the past. Firms such as Yuhan Corporation, Hanmi Pharmaceutical, and ABL Bio have secured major technology export contracts with global pharmaceutical giants during previous JPM conferences.
This year, Samsung Biologics and Celltrion are presenting on the main track, while Alteogen, D&D Pharmatech, and Hugel have crossed the Pacific to present on the Asia-Pacific (APAC) track, which spotlights companies from Asia and Oceania.
A Catalyst for Revitalizing Biotech
The opening day featured presentations from industry giants Bristol Myers Squibb (BMS), Johnson & Johnson (J&J), Novartis, Pfizer, and Sanofi, with the main venue packed with attendees eager to hear from big pharma. Outside, the atmosphere was equally lively with people engaged in business meetings. Some attendees even utilized San Francisco’s famed autonomous taxi service, Waymo, to reach the event.
The excitement about new investments, technological breakthroughs, and potential drug development milestones was palpable among the attendees.
A representative from the Korean biotech industry commented that while numerous conferences and symposiums occur in the biotech and pharmaceutical fields annually, JPM holds a unique significance. It feels like an industry festival where it can gain insights into new research directions and business strategies while networking with potential international partners.
Jeremy Meilman, co-head of J.P. Morgan’s Healthcare division, stated in his opening remarks that the J.P. Morgan Healthcare Conference, with its rich history in San Francisco, serves as a barometer for the biotech industry’s growth. This year, they’re expecting over 9,000 attendees, with more than 12,000 investor meetings scheduled.
He continued that they’re seeing dynamic developments across various sectors, including pharmaceuticals, biotech, healthcare, medtech, and diagnostic services. Well-capitalized companies are strategically leveraging mergers and acquisitions as key growth drivers. All these activities are fueling corporate expansion.
Meilman emphasized that with an outstanding program lined up, it has the opportunity to inject new vitality into the industry through this conference.
Meanwhile, pharmaceutical and biotech companies not presenting will engage in unofficial business meetings to facilitate technology exchange and explore collaborative opportunities. Notably, Shin Yu-yeol, vice president of Lotte Holdings and eldest son of Lotte Group Chairman Shin Dong-bin, and Choi Yoon-jung, head of SK Biopharm’s strategic division and eldest daughter of SK Group Chairman Choi Tae-won, are also expected to attend the event.
Shin stated that its primary objective at this event is to meticulously analyze global market trends and expand its network of potential customers. Leveraging the expertise in Antibody-Drug Conjugates (ADC) through our Syracuse Campus and the state-of-the-art Songdo Campus, set to be completed later this year, it aims to secure meaningful business momentum that transcends mere networking and leads to concrete contract signings.
