BMS inks $15B China-backed deal to fast-track Hengrui assets
Bristol Myers Squibb is striking a broad deal with Hengrui Pharma worth up to $15.2 billion, featuring $600 million upfront for 13 early-stage programs, ex-China rights to four oncology/hematology assets, and joint discovery on five candidates; Hengrui will gain access to BMS immunology assets in China, Hong Kong and Macau and lead early development to proof of concept, in a move that leverages China's reportedly faster timelines (50–70% quicker) to clinical proof of concept.