J. P. Morgan Healthcare Conference: Day 1 Highlights01.09.18
This week, thousands of healthcare executives from across the globe gathered in San Francisco for the 36th Annual J. P. Morgan Healthcare Conference.
Here are a few highlights and takeaways from Day 1.
Fixing global health: Bill Gates was Monday's keynote speaker, and he focused on global health issues, pressing for more private-sector involvement.
The good news: global health outcomes are improving rapidly. Since 1990, child mortality rates have been cut in half.
Still, this year alone, Gates said more than five million children under the age of five will die across the globe – half of them newborns.
Gates encouraged more private-sector focus on global health issues, not just because it's important, but because there's money to be made.
“With creative thinking, we can do it in ways that are both sustainable and profitable,” Gates said. Since 2012, the Gates Foundation has invested nearly $12 billion on global health projects.
He said research on issues like immunotherapy and genetics could have long-term health impacts and create many new revenue opportunities.
"There is still a substantial gap between the tools we have and the tools we need to eliminate the most persistent diseases of poverty. The way to fill that gap is to innovate." - @BillGates #JPMHC18 live stream: https://t.co/Mt2nkbEpx0 pic.twitter.com/KdXUULMbpl— Gates Foundation (@gatesfoundation) January 8, 2018
The full audio from Gate's sessions with CNN Chief Medical Correspondent Dr. Sanjay Gupta is available now.
Impacts of tax reform: With the ink dry on the tax reform deal, companies are taking a closer look on the bottom line impacts.
The big talk of the first day – and likely to continue throughout the week – will be the impacts on corporate earnings and upcoming deals.
Following the company's presentation on Monday, Express Scripts CEO Tim Wentworth expects to see $850 million in savings on taxes in 2018, thanks to the overhaul.
"We will not be sitting on that cash, I promise you that," the CEO of the St. Louis-based company told Axios.
Meanwhile, Eli Lilly & Co. CEO Dave Ricks told Bloomberg said the tax changes will help the company as it looks to bolster its oncology business. "We may win a few more contests that we were losing before," he told Bloomberg.
Expect this to be a reoccurring theme this week in San Francisco; it could open the door to a busy 2018 for companies looking at deals on the horizon.
Diversity in question: An interesting factoid from this year's conference. There are more men named Michael giving presentations than the total number of female CEOs giving presentations this year, according to an analysis by STAT.
Overall, STAT found that men are giving 94 percent of all the corporate presentations at this year's event.
Game night: At the end of the first night, more than 150 attendees made their way to Schroeder's to check out the college football national championship game between Georgia and Alabama. The event was co-hosted by Waller and Brentwood Capital Advisors.
See Day 2 highlights here.