Bristol Myers Squibb and Hengrui Pharma in $15B Licensing Deal
Bristol Myers Squibb has entered into a $15 billion licensing agreement with China's Hengrui Pharma, covering 13 early-stage drug programs in oncology, hematology, and immunology. The deal includes a $600 million upfront payment. This partnership highlights the growing trend of Western pharmaceutical companies tapping into Chinese biotech innovation.
Key facts
- Bristol Myers Squibb and Hengrui Pharma signed a $15 billion licensing deal
- The agreement covers 13 early-stage programs in oncology, hematology, and immunology
- $600 million is due upfront
Entities
Institutions
- Bristol Myers Squibb
- Hengrui Pharma
- Jiangsu Hengrui Pharmaceutical
- Hong Kong Stock Exchange
Locations
- China
- Hong Kong
- Shenzhen
- Macau
Sources
- Quartz —
- SCMP Lifestyle —