The TG Launch War: With Arrowhead’s Redemplo (plozasiran) approved in Nov 2025, watch for Ionis (presenting today) to defend its first-mover advantage with Tryngolza. The FCS/SHTG market is now a duopoly. 👉 Read more

Obesity Speed: Amgen’s CEO Bob Bradway confirmed today that MARITIME (Phase 3) is enrolling at pace. The critical metric to watch this week is any narrowing of the "2027 readout" guidance to confirm they can catch the Lilly/Novo duopoly. 👉 Read more

Pain Market Metrics: With Journavx (suzetrigine) now past the initial post-approval stocking phase following its January 2025 FDA approval, investors are shifting focus to early refill behavior, persistence, and payer friction as the true indicators of launch durability in non-opioid acute pain. 👉 Read more

What happened: In his opening presentation at the J.P. Morgan Healthcare Conference today (Jan 12), Amgen CEO Bob Bradway framed 2026 as a pivotal transition year, driven by the operational scale-up of the MariTide (maridebart cafraglutide) Phase 3 program and the expansion of the biosimilar franchise (now annualizing at ~$3B). 👉 Read more

Why it matters: Bradway explicitly signaled that the "monthly or less frequent" dosing profile of MariTide remains the core differentiator against the weekly incumbents (Lilly/Novo), despite the crowded competitive landscape.

Cardiovascular (Lp(a)): Amgen highlighted olpasiran (Lp(a) RNAi) as a silent value driver, with Phase 2 data showing >95% Lp(a) reductions at higher doses, setting up a competitive outcomes readout versus Novartis’ pelacarsen in 2026/27. 👉 Read more

Neurology: Vertex Pharmaceuticals is expected to provide updates on its pain portfolio beyond Journavx, specifically the Phase 2 diabetic peripheral neuropathy (DPN) data for its follow-on NaV1.8 inhibitors. 👉 Read more

Arrowhead Pharmaceuticals: Entering JPM with commercial momentum following the Nov 2025 FDA approval of Redemplo (plozasiran). Today marks their first major investor appearance as a commercial-stage company, validating the TRiM platform's ability to cross the regulatory finish line. 👉 Read more

Ionis Pharmaceuticals: Celebrating the 1-year anniversary of the Tryngolza (olezarsen) approval (Dec 2024). The focus today is on "breadth of prescribing"—moving beyond niche FCS specialists to broader lipidologists. 👉 Read more

Samsung Bioepis: Confirmed full commercial control of the Byooviz (ranibizumab) franchise in Europe starting this month, marking a strategic shift away from partner-dependent revenue models. 👉 Read more

Quiet today. The FDA's CBER and CDER divisions have not released material guidance documents this morning, likely holding for the post-JPM window. The sector is waiting for the implementation details of the inflation-adjusted rebate rules expected later in Q1.

07:30 PT: GSK plc (Grand Ballroom) – Focus on Vaccines & Specialty Meds.

08:15 PT: Thermo Fisher Scientific (Colonial Room) – Macro "Tools" Bellwether.

08:15 PT: Ionis Pharmaceuticals (California West) – Commercial Launch Updates.

09:00 PT: AstraZeneca plc (Grand Ballroom) – Oncology & ADC Dominance.

09:45 PT: Novo Nordisk AS (Grand Ballroom) – Obesity Pipeline & CagriSema.

12:30 PT: CMS Keynote Panel (Grand Ballroom) – Policy, Rebates, & IRA Implementation.

14:15 PT: Eli Lilly and Company (Grand Ballroom) – Orforglipron & Zepbound Expansion.

14:45 PT: Panel: "The $200 Billion Obesity Treatment Market" (Grand Ballroom).