Scenes, thoughts from the J.P. Morgan Healthcare Conference

If the Occupy Wall Street folks wanted to shut down biotech’s biggest wheeling-and-dealing session, the 30th annual J.P. Morgan Healthcare Conference, couldn’t they just contact the San Francisco fire marshal?
The Occupy movement supposedly was the reason J.P. Morgan asked the Westin St. Francis for additional security for the conference this week. Badge-checkers were at their usual stations inside the hotel but also were moved outside of the hotel, creating more logjams than usual on the sidewalk along Union Street.
Folks staying at the hotel had to show their room keys, so the security crush significantly cut down “clock tower” meetings in the hotel’s lobby. Coupled with the unusually good January weather, Union Square became the preferred chat-up locale, to the point that the park was overrun by posses of (mostly) men in black suits.
All in all, the mood seemed less dreamy, more serious. Even last year, life sciences companies still in shock from the financial crisis seemed like zombies: “Must focus portfolio … arrrrrgh … Be virtual … ugh.” They walked the talk, but they didn’t really seem to mean it. This year, the companies indeed were focused, their milestones tangible.

Dealmakers seek to reset biotech clock at J.P. Morgan conference

As biotech companies and financiers focus on the J.P. Morgan Healthcare Conference — the most important industry confab for deal hookups — it is clear that the crazy days of unconstrained optimism have given way to a reality of mergers, acquisitions and sighs.
More than a quarter of the 43 Bay Area companies that presented at the conference in January 2008 have closed, been sold or merged over the past four years. What’s more, 17 of the 27 surviving publicly traded companies have seen their stock price fall, some more than 90 percent
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