Bristol Myers Squibb inks $15B biobucks deal to bag Hengrui assets, tap China’s R&D speed

Summary: Bristol Myers Squibb (BMS) is teaming up with China's Hengrui Pharma in a massive deal that could be worth up to $15.2 billion. BMS is paying $600 million upfront to share 13 early-stage drug programs. Why? Because developing and testing new drugs in China is 50% to 70% faster than in the rest of the world. BMS gets access to Hengrui's cancer drugs, while Hengrui gets to test some of BMS's immune system drugs in China. This partnership helps both companies figure out if their new medicines work much faster than before.

For more details, see rssapp-fiercebiotech-com at fiercebiotech.com/biotech/bms-inks-15b-biobuck-deal-bag-hengrui-assets-tap-chinas-rd-speed (opens in new tab)