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Healthy Returns: Biotech and pharma M&A is off to a good start in 2025 — but will it last?

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JPMorgan Health Care Conference is largest gathering in the U.S. of biotech and pharma execs, investors and analysts.

The Biden administration announced Friday the next 15 drugs included in Medicare price negotiations.

Last year was marked by smaller and smarter deals in the pharmaceutical industry, report says.

An increase in early-stage fundraising activity and smaller late-stage deals account for the lower investment in 2024 , Rock Health said.

This could spell trouble for later-stage startups that raised money at sky-high valuations during Covid .

Large megafunds, health-systems and tech companies held outsized influence over digital health in 2024 .