Introduction: Deep cooperation reached with Bristol-Myers Squibb, the international map of "Pharma Leader" is now clear
5Month12Hengrui PharmaAnnouncement ReleaseWith Bristol-Myers Squibb (BMS) to reach a global strategic cooperation and licensing agreement, with a potential total transaction value of approximately152Billion USD，Approximately RMB1032100 Million Yuan。Source of the image: Official announcement from Hengrui PharmaAfter the announcement was released, Hengrui PharmaAStocks, Hong Kong stock prices surged in sync,ATotal market capitalization once approached4000billion yuan, the total market value of Hong Kong stocks is even moreBreakthrough5000HKD billion.This transaction involves a total of13The ItemCovering early innovative drug projects in oncology, hematology, and immunology.13The projects do not all come from Hengrui Pharma alone, but are truly“Two-way Empowerment”Collaboration Structure:4Hengrui Pharma's Oncology and Hematology Projects,4ItemBMSThe immunology program, as well as the joint research and development efforts leveraging Hengrui's R&D engine and diversified innovative technology platforms.5An innovative project. This means that this is not just a one-wayThe“Sell Pipeline”, but also a deeply binding strategic alliance.From the payment structure,BMSWill pay Hengrui a maximum of9.5The relevant amount in billions of US dollars, including6USD billion upfront payment,1.75The first anniversary payment of US$100 million, and1.75Billion USD Conditional2028Annual anniversary payment. In addition, if all projects are successfully completed in development, registration, and commercialization milestones, the potential total transaction amount could reach approximately152Hengrui will also receive tiered sales royalties based on the product's net sales, providing Hengrui with long-term stable income expectations.In the geographical rights distribution, the cooperation between the two parties reflects sophisticated strategic thinking.BMSGained global exclusive rights, excluding mainland China, Hong Kong, and Macau, to Hengrui's original research projects and co-development projects; while Hengrui obtainedBMSExclusive rights to the immunology project in mainland China, Hong Kong, and Macao. Hengrui will be fully responsible for the early clinical development of the aforementioned project, accelerating clinical proof of concept. In other words, Hengrui's strengths——Clinical Execution Capability and Modular R&D Platform——ExactlyBMSWhat is valued.According to Pharmcube Data,Hengrui Pharma2023Since the year, a total of13OverseasBDTransaction, Potential Total Amount Exceeded270Billion US dollars.Data Source: YAOZHI Data - Investment Landscape2025Year7In the month, Hengrui Pharma andGSK(GSK) reached a strategic alliance, and both parties will jointly develop includingPDE3/4Including inhibitors, up to12An innovative drug, with a total transaction amount exceeding120USD billion. In the same year5In the month, Hengrui Pharma willGLP-1Global rights license for the product portfolio outside of Greater ChinaKailera Therapeutics, with the upfront payment and potential milestone payments totaling a high amount60Billion dollars. And merely2026Year4Month17Day,KaileraSuccessfully listed on NASDAQ in the United States, marking Hengrui's“NewCo”The overseas model has achieved from“Sell Products”To“Grow Together”A qualitative leap——By binding shares to achieve shared benefits, forming a deeper cooperative bond.Disclaimer: This article is for informational purposes only and does not represent the views of this platform. This article is not a recommendation for treatment plans. For guidance on treatment options, please consult a professional.Please visit a regular hospital for medical treatment. If it involves the content, copyright, and other issues of the work, please leave a message on this platform, and we will verify and handle it in the first place.
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