• Bristol Myers Squibb entered global strategic collaboration, license agreements with Hengrui Pharma to advance 13 early-stage programs across oncology, hematology, immunology.
• Deal structure splits geographic rights, with BMS taking exclusive rights to Hengrui-originated assets outside Chinese mainland, Hong Kong, Macau, while Hengrui takes exclusive rights to BMS-originated assets in those markets.
• BMS to pay up to USD 950 million, including USD 600 million upfront, USD 175 million at first anniversary, USD 175 million contingent payment in 2028.
• Potential total value up to about USD 15.2 billion tied to options on joint discovery programs, development, regulatory, commercial milestones; Hengrui also eligible for tiered royalties on net sales outside its territory.
• Closing expected in Q3 2026, subject to Hart-Scott-Rodino review and customary conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bristol-Myers Squibb Company published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.