After several muted years, the 2025 J.P. Morgan Healthcare Conference signaled a return to big-ticket deals. J&J’s proposed $14.6 billion acquisition of Intra-Cellular Therapies and GSK’s $1 billion purchase of IDRx catapulted this year’s meeting to the largest M&A showing since at least 2019. But behind those high-profile acquisition announcements, JPM speakers and insiders also…