Bristol-Myers Signs $15.2 Billion Hengrui Deal for 13 Drug Programs
Updated
Updated · Bloomberg · May 12
Bristol-Myers Signs $15.2 Billion Hengrui Deal for 13 Drug Programs
1 articles · Updated · Bloomberg · May 12
$15.2 billion is the potential value of Bristol-Myers Squibb’s new collaboration and licensing agreement with Jiangsu Hengrui Pharmaceuticals, centered on 13 early-stage programs.
$600 million up front anchors payments that could reach $950 million by 2028, with the portfolio spanning oncology, hematology and immunology.
Bristol-Myers said the tie-up is aimed at tapping China’s efficiency in early drug development, highlighting its push to source pipeline assets externally.
The agreement gives the US drugmaker access to a broad batch of early candidates while offering Hengrui a large multiyear payout tied to development progress.
What hidden risks could derail this landmark US-China pharma partnership before it delivers new medicines?
Which of the 13 secret drug candidates in this deal could become the next billion-dollar blockbuster therapy?
How will the $15.2B BMS-Hengrui deal reshape the global balance of power in pharmaceutical innovation?
Inside the BMS-Hengrui 13-Program Partnership: The $13 Billion Bet Transforming Global Pharma R&D
Overview
Bristol Myers Squibb and Hengrui Pharma have formed a landmark partnership, expected to close in Q3 2026, that stands out because BMS is including its own assets—something not seen in Hengrui’s previous deals. This comprehensive agreement covers 13 early-stage drug programs in key areas like oncology, hematology, and immunology. The main goal is to accelerate early clinical learning and support informed decision-making, setting both companies up for significant growth in the next decade. By combining their strengths, BMS and Hengrui aim to build a robust pipeline and drive innovation together.