US Foods (NYSE:USFD) FY 2025 Conference January 12, 2026 04:30 PM ET Company ParticipantsDirk Locascio - CFODave Flitman - CEOConference Call ParticipantsMark Carden - AnalystMark CardenAll right, let's kick things off. So good afternoon, everyone. I'm MarkCarden , the North American Food Retail and Food Distribution Analyst from UBS. Thank you, everyone, for joining us this afternoon. Thanks to ICR for putting together another great event. Super excited right now. Got with me today the team from US Foods. ...

Kodiak Sciences (NasdaqGM:KOD) FY Conference January 12, 2026 04:30 PM ET Company ParticipantsVictor Perlroth - CEOConference Call ParticipantsAnupam Rama - Senior Biotech AnalystAnupam RamaAll right, welcome everyone to the 44th Annual JP Morgan Healthcare Conference. My name is Anupam Rama. I'm one of the Senior Biotech Analysts here at JP Morgan. I'm joined by my squad, Priyanka Grover, Joyce Zhou, and Ratih Pinhai. Our next presenting company is Kodiak. I'm presenting on behalf of the company. We have C ...

Financial Data and Key Metrics Changes - The company has maintained a stable consumer backdrop despite pressures over the past few years, with a focus on market share growth and productivity improvements [3][4] - The company is optimistic about potential tailwinds in 2026, including higher tax refunds and stimulus, which could strengthen consumer sentiment [5] - The company has sustained strong profit growth with a 10% EBITDA and 20% EPS CAGR, attributed to effective execution and control of controllables [10][11] Business Line Data and Key Metrics Changes - The company has seen a long-term trend of independent restaurants outperforming chain restaurants, with expectations for this trend to continue [9] - The company has achieved 18 consecutive quarters of market share gains, focusing on new account generation and minimizing lost business [35] Market Data and Key Metrics Changes - The company is focused on three core customer types: independent restaurants, healthcare, and hospitality, which are the fastest-growing and most profitable segments [15][16] - The company has been investing heavily in its Pronto initiative, projecting revenue growth from $1 billion to $1.5 billion over the midterm [38] Company Strategy and Development Direction - The company is committed to a 100% commission compensation model to align incentives and enhance sales effectiveness [24][30] - The company is focused on tuck-in M&A opportunities to scale in local markets and improve delivery efficiency [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of profit growth and the ability to improve EBITDA margins over the long term through process improvements and technology [46][47] - The company is excited about its future, emphasizing its unique position as a pure play food service distributor with a simple business model [50][51] Other Important Information - The company has not seen increased turnover since implementing pilot programs for the new compensation model, indicating positive reception among sales staff [28][34] - The company is actively exploring opportunities in the specialty business, leveraging its distribution capabilities to serve a broader array of customers [41] Q&A Session Summary Question: How does the company view the health of the consumer today? - Management noted that the consumer has been under pressure for the past few years but remains stable, with hopes for improvement in 2026 due to potential economic tailwinds [3][5] Question: What is the company's strategy regarding M&A? - The company is focused on tuck-in acquisitions to enhance local market scale, while remaining open to larger opportunities if they align with strategic goals [22][23] Question: How does the company plan to balance new account growth and penetration growth? - Management emphasized the importance of both new account generation and minimizing lost business, with recent success in net new account growth [36]

Biogen (NasdaqGS:BIIB) FY Conference January 12, 2026 04:30 PM ET Company ParticipantsChris Schott - Managing DirectorChris Viehbacher - CEOChris SchottGood afternoon, everybody. I'm Chris Schott from JPMorgan, and it's my pleasure to be introducing Biogen today. We have the company's CEO, Chris Viehbacher, who's going to talk about the progress the company's made across its portfolio. So, Chris, happy New Year. Looking forward to the presentation, and we'll jump to a Q&A session once Chris is done.Chris Vi ...

Bausch + Lomb (NYSE:BLCO) FY Conference January 12, 2026 04:30 PM ET Company ParticipantsBrent Saunders - CEOYehia Hashad - Head of R&DSam Eldessouky - CFOConference Call ParticipantsNone - AnalystBrent SaundersGood afternoon, and thank you for joining us here today. The J.P. Morgan Healthcare Conference brings together companies that are not only competing in healthcare but shaping where the industry is going, and we're very proud to be part of the conversation. Special thank you, Robbie, for hosting us he ...

Madrigal Pharmaceuticals (NasdaqGS:MDGL) FY Conference January 12, 2026 04:30 PM ET Speaker1Good afternoon, everyone, and welcome. I'm Pradyumna from JPMorgan's healthcare team. Thank you for joining us for the Madrigal Pharmaceuticals presentation today. Madrigal has been one of the most consequential companies in the metabolic and liver disease over the last few years, and today, we're pleased to be joined by Bill Sibold, the Chief Executive Officer, Dr. David Soergel, the Chief Medical Officer, and Mardi ...

Caris Life Sciences (NasdaqGS:CAI) FY Conference January 12, 2026 04:30 PM ET Company ParticipantsDavid Spetzler - PresidentLuke Power - CFOBrian Brille - Vice ChairmanConference Call ParticipantsSebastien Sandler - AnalystSebastien SandlerGreat. Welcome back from lunch, everyone. My name is Sebastian Sandler from the Life Sciences Tools and Diagnostics team at JPMorgan. I'm pleased to be joined by the Caris Life Sciences team. As usual, there will be 20 or so minutes of presentation followed by Q&A. And so ...

United Therapeutics (NasdaqGS:UTHR) FY Conference January 12, 2026 04:30 PM ET Company ParticipantsMartine Rothblatt - Chair and CEOConference Call ParticipantsNone - Analyst 2None - Analyst 1None - Analyst 3Jessica Fye - AnalystMartine RothblattHi, Jess.Jessica FyeHow are you?Happy New Year.Martine RothblattHappy New Year to you too. Congratulations on the baby.Thank you.Jessica FyeThank you.Thank you.Great. Good afternoon, everyone. My name's Jessica Fye, a large-cap biotech analyst at J.P. Morgan, and we ...

Daiichi Sankyo Company FY Conference Summary Company Overview - **Company**: Daiichi Sankyo Company - **Headquarters**: Tokyo, Japan - **Fiscal Year Ending**: March 31, 2026 - **Revenue Forecast**: Approximately 2.1 trillion JPY, an increase of 11% from the previous fiscal year [3] - **Core Operating Profit Forecast**: 350 billion JPY, reflecting a growth of 12% from the previous fiscal year [3] - **Revenue Distribution**: Approximately 70% generated outside Japan, particularly in the United States [3] Key Products and Technologies - **Main Growth Drivers**: HER2-directed ADC Enhertu and Trop2-directed ADC Dataway [3] - **DXd ADC Technology**: Proprietary technology platform with two launched products, Enhertu and Dataway, approved in multiple indications [4] - **Clinical Development**: Seven different ADC assets in clinical development, with promising outcomes in various cancers [4] - **Breakthrough Therapy Designation**: Five DXd ADCs received BTD from FDA, with Enhertu's DESTINY-Breast05 study being the 14th to receive this designation [4] Market Performance - **Global Net Sales (Q2 FY 2025)**: 160 billion JPY, growing 24% year-over-year [6] - **Enhertu Impact**: Over 200,000 patients treated across 85 countries, with significant market share leadership in various cancer indications [6][5] - **Dataway Sales**: Exceeded 10 billion JPY in Q2, with U.S. revenue growing 113% and Japan's revenue growing 59% compared to the previous quarter [8] Clinical Insights - **Enhertu in HER2-positive Metastatic Breast Cancer**: Reduced risk of disease progression or death by 44% compared to standard treatments, with over 40 months of progression-free survival [7] - **Dataway in HR-positive, HER2-negative Metastatic Breast Cancer**: Early experiences reported positively by oncologists, with expectations for triple-negative breast cancer indication [9][10] Future Growth and Strategy - **New Indications**: Anticipated growth from Enhertu and Dataway in 2026, with multiple pivotal trials expected to read out over the next few years [10][11] - **Investment in R&D**: Continued investment in clinical trials and establishing in-house capabilities for clinical development [19][24] - **Shareholder Returns**: Targeting a dividend on equity of 8% or more, with plans for consecutive annual dividend increases [15] Manufacturing and Development - **Global Manufacturing Sites**: 13 sites globally, with ongoing investments in manufacturing capabilities in Germany, China, and the U.S. [14][29] - **Platform Strategy**: Focus on developing multiple ADC technologies, including modified PBD ADC and STING agonist ADC technologies [12][27] Conclusion - **Commitment to Oncology**: Transition from a cardiovascular company to a global oncology leader, with a strong pipeline and innovative ADC technologies [17][19] - **Sustainable Growth**: Aiming for sustainable growth beyond 2030 through continuous innovation and enhanced shareholder returns [20]

Tempus AI (NasdaqGS:TEM) FY Conference January 12, 2026 04:30 PM ET Speaker0All right, great. Welcome, everybody. I'm Casey Woodring from the Life Science Tools and Diagnostics team here at J.P. Morgan. Welcome to our conference. Pleased to be joined by Tempus AI CEO Eric Lefkofsky. We'll go through the corporate presentation, then leave time for the Q&A afterwards. Eric, all yours.Speaker2Thank you. Welcome. I don't have seats up here. I'm going to have people in the back, but my homies, feel free to walk ...