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The J.P. Morgan Healthcare Conference, biotech’s biggest annual conference, will be virtual, the bank said Wednesday, bowing to pressure from big-name drug companies that balked at an in-person meeting amid escalating cases of Covid-19.

“The health and safety of our clients and employees is of the utmost importance, and given the ongoing Covid-19 pandemic, we have made this decision,” J.P. Morgan said in an email to registered attendees, obtained by STAT. “We were not only hopeful to meet in-person but also understand how much this conference means to the San Francisco community, which we fully support.”

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