| FRI, JAN 10, 2020 | | | | Brace for #JPM20 | Verily nabs Tesla exec | | | | Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.
Good morning.
The New Year begins with the health industry's biggest players descending on the Bay Area next week. CNBC's Meg Tirrell has a preview for the JPMorgan Healthcare Conference in San Francisco. Chrissy Farr got the scoop on key hires at Verily, the health and life sciences unit of Google parent company Alphabet, and Bertha Coombs reports on the big push in primary care this year.
(Are there any stories we should be chasing? Email tips, ideas, suggestions to CNBC Health Editor Dawn Kopecki at dawn.kopecki@nbcuni.com.)
| | Get ready for the rodeo – er, #JPM20 | It's health care's biggest investing event of the year - but what does the JPMorgan Healthcare Conference actually mean for investors? The bank's biotech team analyzed industry stocks' historical performance and found it's usually a good week for biotech: the Nasdaq Biotech Index outperformed the S&P 500 during JPM week in all but 3 of the previous 19 years. One of those years of underperformance, though? 2016. So what will this election year JPM bring? We'll have more than a dozen live interviews on CNBC from the conference with the industry's biggest leaders to help answer that question. -Meg Tirrell | | | | Primary Care's Year to Shine | Moneyball famously changed baseball over the last two decades, by leveraging data analytics to find undervalued players who help score runs. Venture capitalists have bet that One Medical, the direct primary care service, can bring its own Moneyball magic to health care, by improving care and lowering costs. The Google-backed unicorn is now looking to go public, as the market is getting more competitive. Large incumbents like Walmart, CVS Health and Humana are getting in on the primary care game this year. The big question for investors is how long it will take for this new strategy to pay off for any of them. -Bertha Coombs | | | | Top Republican turns to Pelosi for help on drug pricing | Republican Sen. Chuck Grassley is turning to Democratic House Speaker Nancy Pelosi for help selling his bipartisan bill to lower drug prices in the Senate. During an interview on CNBC this week, Grassley said he wanted to persuade Pelosi to abandon her bill, passed by the House in December, and support his legislation. It's unclear whether Pelosi would be willing to do so — her office did not get back to me. But Grassley doesn't appear to be expecting help from his own party's leadership. Last month, he accused Senate Majority Leader Mitch McConnell of sabotaging his bill. -Berkeley Lovelace Jr. | | | | Alphabet's Verily hires Tesla's former CFO | Verily has made some important hires as it looks to scale its business outside of its parent company, Alphabet. Verily, which is partnered with a wide range of pharmaceutical and medical device companies, told us this week that it brought on Tesla's former CFO Deepak Ahuja as its new CFO. Ahuja, by phone, said he was intrigued by the opportunity because there's a "window of opportunity" in health-technology, which reminded him of the early days of Tesla. "Health care is in a state of crisis," he said, and pointed to the potential for new technologies like artificial intelligence and machine learning. Verily has scooped up a new head of software, Scott Burke, and a chief clinical officer for its platforms business, who previously worked in D.C. as the former National Coordinator for Health Information Technology. -Chrissy Farr | | | | Juul continues leadership shake up | Juul this week tapped its brand new chief financial officer, Guy Cartwright, to run the embattled e-cigarette maker's $1 billion restructuring effort. The company's accounting chief, Saurabh Sinha, is taking over as interim CFO. The changes come after several top executives left the company last year, including the chief administrative officer and CFO. Kevin Burns resigned as Juul's CEO in September and was replaced by former Altria executive K.C. Crosthwaite. -Berkeley Lovelace Jr. | | Healthy Returns: Investing in health care innovation
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