Bristol Myers Squibb (BMY) and Hengrui Pharma (01276.HK) announced a strategic collaboration and license agreements to advance a portfolio of 13 early-stage programs in oncology, hematology and immunology. The partnership is designed to accelerate discovery and development of innovative medicines for the benefit of patients worldwide.
The agreements include four oncology/hematology assets from Hengrui, four immunology assets from BMS, and five jointly discovered programs leveraging Hengrui's discovery engine and platform technologies. Under the terms, BMS obtains exclusive worldwide rights to Hengrui originated assets outside China, Hong Kong, and Macau, while Hengrui secures exclusive rights to BMS originated assets within those territories.
Hengrui will lead early clinical development to accelerate proof of concept, while both companies will collaborate on later stages.
Executives from both firms emphasized that the collaboration combines BMS's global scale and regulatory expertise with Hengrui's efficient early-stage development capabilities.
Financial terms include up to $950 million in near-term payments to Hengrui, consisting of a $600 million upfront payment, and a $175 million first anniversary payment, and a $175 million contingent payment in 2028. The potential total value of the agreement is approximately $15.2 billion, including milestone payments and royalties on net sales outside Hengrui's territories.
The transaction is subject to customary regulatory reviews and is expected to close in the third quarter of 2026.
BMY has traded between $42.52 and $62.89 over the past year. The stock is currently trading at $55.86, up 0.34%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.