Next Month from 9 to 12 in San Francisco
Recognized as the World's Largest Pharmaceutical and Bio Event
[Asia Economy Reporter Chunhee Lee] The JP Morgan Healthcare Conference, the first event to kick off the new year in the pharmaceutical and biotech industry, will be held next month. As the world's largest technology deal platform and the first in-person event since the COVID-19 pandemic, expectations are high.
According to industry sources on the 28th, the JP Morgan Healthcare Conference will take place from the 9th to the 12th of next month (local time) in San Francisco, USA. Held annually since 1983, it is the largest event in the pharmaceutical and biotech industry, gathering about 14,000 global healthcare companies and investors. It is often regarded as a venue for technology deals, as major technology transactions are frequently finalized or announced there. Due to COVID-19, the event was held virtually for two consecutive years starting last year, but offline events will resume next year.
Samsung Biologics, Lotte Biologics, LG Chem, Hanmi Pharmaceutical, SK Bioscience, SD Biosensor, JW Pharmaceutical, GI Innovation, ABL Bio, Tium Bio, MedPacto, and Genome & Company have reportedly been officially invited to this conference.
John Rim, CEO of Samsung Biologics, is answering questions during an online press conference held after a virtual presentation at the JP Morgan Healthcare Conference last January. (Photo by Samsung Biologics)
Among them, Samsung Biologics, Lotte Biologics, and SD Biosensor will also participate in presentation sessions. Samsung Biologics has been assigned the main track presentation, the most important track, again this year, marking its seventh consecutive year presenting on the main track since 2017. On the afternoon of the 11th next month, CEO John Rim will present key achievements of this year and business directions for next year regarding production capacity, portfolio, and global bases in the Grand Ballroom, which is reserved exclusively for global major pharmaceutical companies.
Lotte Biologics and SD Biosensor, invited to the conference for the first time this year, will present on the 10th in the Asia-Pacific & Latin America (APAC & LatAm) section. Lotte Biologics CEO Wonjik Lee is expected to outline detailed operational plans for the Syracuse plant in the U.S., which is anticipated to complete acquisition within this year, along with business directions for next year. Attention is also focused on whether detailed plans for the mega plant establishment, valued at about 1 trillion won and previously stated to prioritize Korea, will be revealed.
SD Biosensor Executive Director Hyeim Cho will present on business synergies through the acquisition of Meridian Bioscience and future merger and acquisition (M&A) strategies. SD Biosensor also plans to complete the acquisition of Meridian within next month, aiming to create synergies such as establishing a foothold for entry into the U.S. market.
Other domestic pharmaceutical and biotech companies attending the conference will conduct individual partnering meetings with big pharma companies or participate in related side events. The Korea Bio Association will co-host the 'Global IR@JPM' event as a side event together with global law firm Sidley Austin. Six companies?SCM Life Science, GI Innovation, Abion, Aptis, Putuga Bio, and Huino?will give corporate presentations.
At this year's conference held in January, ABL Bio signed a major deal transferring technology for the dual antibody candidate 'ABL301' for degenerative brain diseases to global big pharma Sanofi, with a total value of $1.06 billion (about 1.343 trillion won), including an upfront payment of $75 million. Therefore, there is keen interest in whether similar 'mega deals' will emerge at next year's conference.
However, there is criticism that some companies excessively use the JP Morgan Healthcare Conference as a promotional tool. There are concerns that promoting participation in side events or attendance solely for partnering meetings as 'participation in the JP Morgan Healthcare Conference,' without official event participation or invitation, may confuse investors. An industry insider advised, "Even official invitations are not difficult to obtain if a company with some reputation requests an invitation letter from JP Morgan. It is necessary to discern the actual level of participation in the conference."
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