Asia
Jiangsu Hengrui Pharma Signs $15 Billion Drug Development Deal with Bristol Myers Squibb
Jiangsu Hengrui Pharmaceuticals (HKG:1276, SHA:600276) entered into global collaboration and license agreements with Bristol Myers Squibb to develop 13 early-stage programs across oncology, hematology, and immunology, according to a Tuesday Hong Kong bourse filing.The agreements include four oncology and hematology programs from Hengrui, four immunology programs from Bristol Myers Squibb, and five jointly discovered and developed programs.The U.S.-headquartered biopharma company will pay Hengrui up to $950 million, including a $600 million upfront payment, a $175 million first anniversary payment, and a contingent $175 million payment in 2028.The potential total value of the agreements could reach about $15.2 billion, including milestone payments tied to development, regulatory, and commercial targets.Under the deal, Bristol Myers will obtain exclusive worldwide rights to Hengrui-originated programs outside mainland China, Hong Kong, and Macau, while Hengrui will secure exclusive rights to Bristol Myers Squibb-originated programs within those markets.The companies expect the agreements to close in the third quarter, subject to antitrust review and other customary closing conditions.
HKG:1276SHA:600276