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总结
多家行业媒体在美国举行的摩根大通医疗健康大会（JPM）期间发布盘点，FirstWord Pharma汇总“5大要点”。报道指出，会期会议、路演与一对一交流密集，但缺乏引发市场震动的超大并购交易，显示生物医药企业与资本对合作、并购及融资节奏更趋审慎。与此同时，行业对新药研发进展、资金环境与市场预期的乐观情绪有所回升，但仍在现实压力与估值约束下接受考验，后续交易与资本窗口被视为关键变量。
正文
Five key takeaways from JPM FirstWord Pharma 5 Takeaways From This Week's J.P. Morgan Healthcare Conference Forbes All the meetings, none of the megadeals: Is JPM's purpose evolving? Fierce Biotech On biotech's biggest stage, renewed excitement gets a stress test BioPharma Dive Reporting Live from JPM 2026: Alex Philippidis and Jonathan Grinstein, PhD Genetic Engineering and Biotechnology News
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