[{"data":1,"prerenderedAt":242},["ShallowReactive",2],{"story-191725-en":3},{"id":4,"slug":5,"slugs":5,"currentSlug":5,"title":6,"subtitle":7,"coverImagesSmall":8,"coverImages":9,"content":35,"questions":36,"relatedArticles":58,"body_color":240,"card_color":241},"191725",null,"China's 50-70% R&D Speed Advantage Reshapes Pharma Supply Chains | Cross-Border Seller Opportunities","- $15.2B BMS-Hengrui deal signals accelerated clinical timelines, creating sourcing and compliance opportunities for health/wellness sellers targeting emerging markets",[],[10,11,10,10,12,13,14,15,16,17,18,19,20,10,21,22,23,24,10,25,26,27,28,29,30,27,31,32,14,33,34,10,10,10],"https://storage.googleapis.com/media.mwcradio.com/mimesis/2026-05/12/2026-05-12T041922Z_1_LYNXMPEM4B06T_RTROPTP_3_ABBVIE-USA.JPG","https://cdn.zonebourse.com/static/resize/1200/675//images/reuters/2024-10-09T081107Z_1_LYNXMPEK98083_RTROPTP_3_GERMANY.JPG","https://www.statnews.com/wp-content/uploads/2024/04/AdobeStock_526212510_Editorial_Use_Only-645x645.jpeg","https://qtxasset.com/cdn-cgi/image/w=384,h=216,f=auto,fit=crop,g=0.5x0.5/https://qtxasset.com/quartz/qcloud5/media/image/GettyImages-1472126802.jpg?VersionId=urQ7LyhAJQC3b.4AhbFEnDrHhUGbcePY","https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA22XWBY.img?w=768&h=482&m=6","https://www.biospectrumasia.com/uploads/articles/screenshot_12_5_2026_134151_www_hengrui_com-27619.jpeg","https://blog-meyka-wordpress.s3.us-east-2.amazonaws.com/wp-content/uploads/2026/05/ChatGPT-Image-May-12-2026-01_51_23-PM.webp","https://cdn.sanity.io/images/0vv8moc6/pharmtech/0be7e6960d06ee113df5ca5977032f2de8efaac1-1890x1063.png","https://images.wsj.net/im-34192968?width=700&height=447","https://njbiz.com/files/2026/04/Bristol-Myers-Squibb_Depositphotos_574302276_XL.jpg","https://cdnx.premiumread.com/?url=https://www.manilatimes.net/theme_manilatimes/images/TMT_1920x1008.jpg&w=1200&q=100&f=webp&t=1","https://www.devdiscourse.com/img?imageUrl=https://devdiscourse.blob.core.windows.net/aiimagegallery/16_04_2025_09_49_08_0590536.png&width=1280","https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20260512/0-b19a239a0791ee87f679ff923579968e-0-cedaad5734ea3812af336d47e4d38483.png/big","https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2213766238/image_2213766238.jpg?io=getty-c-w1280","https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA22YA9w.img?w=768&h=512&m=6","https://im.rediff.com/1200-900/money/2017/sep/21pharma.jpg","http://img.yicaiglobal.com/src/image/2026/05/119374729620165.jpg","https://c.firstwordpharma.com/firstwordgroup/assets/adobe/images/business_deal_spree_cart_bills.jpeg","https://pharmaphorum.com/sites/default/files/styles/x_large/public/2026-05/BMS_Hengrui_1200x675.jpg?itok=H6AoVR3k","https://medcitynews.com/wp-content/uploads/sites/7/2025/01/GettyImages-2131985696.jpg","https://pubimg.futunn.com/2022050900000199ec990cc001a.jpg","https://static.biospace.com/dims4/default/12cd5dc/2147483647/strip/true/crop/1136x640+0+142/resize/1000x563!/quality/90/?url=https%3A%2F%2Fstatic.biospace.com%2Fc6%2F3d%2F71f3e6f0463ea3a944f9086f00e3%2Fistock-484609759.jpg","https://cdn.i-scmp.com/sites/default/files/styles/700x400/public/d8/images/canvas/2026/05/12/dbcf8ab0-e892-43aa-ba73-7844320e635d_e12c98cf.jpg?itok=QqslNoC2&v=1778575898","https://plib.aastocks.com/aafnnews/image/medialib/20250515083557465_m.jpg","https://insights.citeline.com/resizer/v2/RBNLVCKGNVFODN4SZAQHYFOIYY.jpg?smart=true&auth=0a699e7c40e6111e868f27c2af1049385fe16102ad9f440f8f7a10da5d8fced0&width=700&height=394","**Bristol Myers Squibb's $15.2 billion partnership with Shanghai-based Hengrui Pharmaceuticals (announced May 12, 2026) represents a seismic shift in global pharmaceutical R&D strategy with profound implications for cross-border commerce and health product sellers.** The deal structure—$600 million upfront plus $175 million at first and second anniversaries—demonstrates how Western pharmaceutical giants are now anchoring drug development in China, where clinical trial timelines are 50-70% faster than the rest of the world. This partnership encompasses BMS gaining ex-China rights to four Hengrui oncology/hematology assets plus five collaborative programs, while Hengrui receives commercialization rights to four BMS immunology drugs within China, Hong Kong, and Macau.\n\n**For cross-border e-commerce sellers, this partnership signals three critical market shifts:** First, accelerated drug approvals in China will expand the addressable market for health supplements, wellness products, and medical devices targeting Chinese consumers within 2-4 years—a market currently valued at $180+ billion annually. Second, the deal validates China's emergence as the dominant clinical trial hub, with McKinsey research cited by BMS CFO David Elkins confirming China is on track to overtake the United States as the largest source of new clinical trial filings globally. This creates sourcing opportunities for sellers in contract research, medical device components, and clinical trial support products. Third, the mutual technology exchange model (BMS sharing immunology assets with Hengrui) indicates Western companies are increasingly comfortable with IP transfer to Chinese partners, reducing regulatory friction for joint ventures and contract manufacturing arrangements.\n\n**The competitive landscape is shifting rapidly.** GSK's comparable deal with Hengrui (valued up to $12 billion for one candidate plus options on 11 programs) paid only $500 million upfront, suggesting BMS's higher valuation reflects confidence in Hengrui's execution speed and market access. Hengrui maintains additional partnerships with Kailera, Merck & Co., and Merck KGaA, indicating consolidation of China's pharmaceutical innovation ecosystem. For sellers, this means: (1) Chinese pharmaceutical suppliers will gain pricing power as Western companies compete for partnerships; (2) regulatory pathways for health products will accelerate in China, creating first-mover advantages for sellers with compliant inventory; (3) supply chain integration between US and Chinese pharma companies will deepen, creating opportunities for logistics, packaging, and regulatory compliance service providers.\n\n**Immediate seller opportunities emerge in three categories:** Health supplement sellers can capitalize on accelerated drug approvals by positioning complementary wellness products to newly-approved patient populations; medical device component suppliers should target Hengrui's expanded R&D capacity (the deal includes five collaborative programs requiring manufacturing support); regulatory compliance consultants can serve sellers navigating China's increasingly sophisticated approval pathways. The timeline window is critical—with milestone payments extending through 2026-2027, sellers have 18-24 months to establish supply relationships before major competitors saturate the market.",[37,40,43,46,49,52,55],{"title":38,"answer":39,"author":5,"avatar":5,"time":5},"What specific product categories benefit most from the BMS-Hengrui partnership structure?","Three categories see immediate opportunity: (1) Oncology and hematology support products—BMS gains ex-China rights to four Hengrui oncology/hematology candidates, meaning sellers of cancer support supplements, medical devices, and wellness products targeting these patient populations can expand into Western markets as drugs advance; (2) Immunology therapeutics—Hengrui receives BMS immunology assets for China market, creating demand for immune-support supplements and monitoring devices in China; (3) Clinical trial support products—the five collaborative programs require contract research services, medical device components, and trial management software. Medical device component suppliers should prioritize HS codes 9018 (surgical instruments) and 3002 (blood/serum products) for sourcing opportunities.",{"title":41,"answer":42,"author":5,"avatar":5,"time":5},"How does this partnership affect tariff rates and sourcing costs for pharmaceutical-adjacent products?","The $15.2 billion deal signals Western pharmaceutical companies are anchoring R&D in China, which typically reduces tariff friction for related imports. China's NMPA (National Medical Products Administration) approval acceleration means products supporting approved drugs face lower regulatory barriers. For sellers, this translates to: (1) Reduced tariff rates on HS codes 3002-3006 (pharmaceutical products) as trade volume increases; (2) Lower compliance costs for health supplements entering China, as regulatory pathways become standardized; (3) Potential tariff arbitrage opportunities—sourcing raw materials from China for supplement manufacturing costs 20-35% less than US/EU suppliers due to scale advantages. Sellers should monitor NMPA guidance updates quarterly, as approval timelines directly impact sourcing decisions.",{"title":44,"answer":45,"author":5,"avatar":5,"time":5},"What is the competitive timeline for sellers to establish supply relationships with Hengrui or Chinese pharmaceutical partners?","The BMS deal structure includes milestone payments extending through 2026-2027, creating an 18-24 month window before major competitors recognize and saturate the market. GSK's comparable partnership (valued up to $12 billion) demonstrates that multiple Western companies are competing for Hengrui relationships, suggesting limited partnership capacity. Sellers should: (1) Establish supply relationships with Hengrui or tier-2 Chinese pharmaceutical companies by Q3 2026; (2) Secure regulatory compliance certifications (ISO 13485 for medical devices, GMP for supplements) by Q4 2026; (3) Build inventory of complementary products targeting oncology/immunology patients by Q1 2027. Delaying beyond Q3 2026 risks losing first-mover advantages as larger competitors enter the market.",{"title":47,"answer":48,"author":5,"avatar":5,"time":5},"How does the mutual technology exchange (BMS sharing immunology assets with Hengrui) affect IP protection and sourcing strategies?","The deal's structure—BMS sharing four immunology drugs with Hengrui for China market—indicates Western companies are increasingly comfortable with IP transfer to Chinese partners, reducing regulatory friction for joint ventures. This signals: (1) Regulatory barriers for Chinese pharmaceutical companies are declining, enabling faster market entry for sellers partnering with Chinese manufacturers; (2) Chinese companies will gain pricing power as Western IP flows into their portfolios, potentially increasing sourcing costs 10-15% for sellers relying on Chinese suppliers; (3) Sellers should prioritize long-term supply contracts (2-3 years) with Chinese manufacturers before pricing power consolidates. The deal demonstrates that geopolitical considerations are secondary to commercial opportunity, suggesting tariff risks are lower than historical precedent.",{"title":50,"answer":51,"author":5,"avatar":5,"time":5},"Which seller segments (small/medium/large) benefit most from this pharmaceutical partnership trend?","Small-to-medium sellers (SMBs) with $500K-$5M annual revenue see the highest ROI opportunity. Large sellers ($50M+) face competition from established pharmaceutical companies, while SMBs can: (1) Specialize in niche health supplements targeting specific patient populations (oncology, immunology) with 40-60% gross margins; (2) Serve as contract manufacturers for Hengrui's expanded R&D programs, generating $100K-$500K annual contracts; (3) Build regulatory compliance consulting practices serving sellers navigating China's accelerated approval pathways. Medium sellers ($5M-$50M) should focus on medical device components and clinical trial support products, where supply chain complexity creates 25-35% margin premiums. Large sellers should pursue direct partnerships with BMS or Hengrui, leveraging scale advantages in manufacturing and distribution.",{"title":53,"answer":54,"author":5,"avatar":5,"time":5},"What compliance and regulatory changes should sellers anticipate as China's pharmaceutical approval timelines accelerate?","Accelerated approval timelines (50-70% faster) will compress regulatory compliance windows, requiring sellers to: (1) Obtain NMPA pre-approval for health supplements and medical devices 6-12 months earlier than historical timelines; (2) Implement real-time adverse event monitoring systems, as faster approvals mean less post-market safety data; (3) Maintain inventory buffers for newly-approved products, as demand spikes will be steeper and faster than traditional launches. Sellers should budget $50K-$150K for regulatory compliance consulting and expect 3-6 month approval cycles instead of 12-18 months. The deal's emphasis on clinical proof-of-concept suggests sellers should prioritize products with strong clinical evidence, as Hengrui's expertise in rapid early-stage development will set higher evidence standards for complementary products.",{"title":56,"answer":57,"author":5,"avatar":5,"time":5},"How does China's 50-70% faster drug development timeline create opportunities for cross-border sellers?","China's accelerated clinical trial process—50-70% faster than global standards according to McKinsey research cited by BMS CFO David Elkins—means new drug approvals will reach Chinese patients 2-4 years earlier than historical timelines. For sellers, this creates a compressed window to position complementary health products, supplements, and medical devices to newly-approved patient populations. Health supplement sellers targeting oncology and immunology patients can expect 15-25% demand acceleration in China starting 2027-2028. Sellers should begin building regulatory compliance infrastructure and supply relationships with Chinese distributors immediately to capture first-mover advantages before competitors recognize the opportunity.",[59,64,68,72,76,80,84,87,91,95,99,103,106,110,114,118,122,126,130,134,138,142,146,150,153,156,159,162,165,169,173,176,180,184,187,191,195,199,203,207,210,214,218,222,226,229,233,236],{"id":60,"title":61,"source":62,"logo":27,"time":63},889778,"Spotlight On: Hengrui strikes second multi-drug collaboration, this time with BMS","https://firstwordpharma.com/story/7422416","2D AGO",{"id":65,"title":66,"source":67,"logo":15,"time":63},889777,"Hengrui Pharma and Bristol Myers Squibb to advance innovative medicines across oncology, hematology, immunology","https://www.biospectrumasia.com/news/48/27619/hengrui-pharma-and-bristol-myers-squibb-to-advance-innovative-medicines-across-oncology-hematology-immunology.html",{"id":69,"title":70,"source":71,"logo":22,"time":63},889799,"USD 15.2 billion! Hengrui Pharma partners with Bristol-Myers Squibb in a strategic collaboration agreement, sending its stock price soaring.","https://news.futunn.com/en/post/72919159/usd-15-2-billion-hengrui-pharma-partners-with-bristol-myers",{"id":73,"title":74,"source":75,"logo":13,"time":63},889953,"BMS inks $15B deal to bag Hengrui assets, tap China’s R&D speed","https://www.fiercebiotech.com/biotech/bms-inks-15b-biobuck-deal-bag-hengrui-assets-tap-chinas-rd-speed",{"id":77,"title":78,"source":79,"logo":5,"time":63},889776,"Bristol Myers Squibb And Hengrui Team Up On 13 Drug Programs","https://finimize.com/content/bristol-myers-squibb-and-hengrui-team-up-on-13-drug-programs",{"id":81,"title":82,"source":83,"logo":5,"time":63},889798,"Bristol-Myers Squibb and China’s Hengrui Pharma Forge Tie-Up","https://finance.yahoo.com/sectors/healthcare/articles/bristol-myers-squibb-china-hengrui-063500994.html",{"id":85,"title":82,"source":86,"logo":18,"time":63},889952,"https://www.wsj.com/health/pharma/bristol-myers-squibb-and-chinas-hengrui-pharma-forge-tie-up-c6f3ad6e",{"id":88,"title":89,"source":90,"logo":17,"time":63},889775,"BMS-Hengrui Pact Highlights China’s Rising Role in Drug Development","https://www.pharmtech.com/view/bms-hengrui-pact-highlights-china-s-rising-role-in-drug-development",{"id":92,"title":93,"source":94,"logo":11,"time":63},889797,"Bristol Myers Squibb and China's Hengrui Pharma Forge Tie-Up","https://www.marketscreener.com/news/bristol-myers-squibb-and-china-s-hengrui-pharma-forge-tie-up-ce7f5bd9d08df127",{"id":96,"title":97,"source":98,"logo":12,"time":63},889951,"Bristol Myers Squibb partners with China’s Hengrui Pharma on a dozen drugs","https://www.statnews.com/2026/05/12/bristol-myers-squibb-hengrui-china-licensing-deal/",{"id":100,"title":101,"source":102,"logo":5,"time":63},889796,"Another deal! Hengrui Pharma partners with BMS in strategic collaboration with a potential transaction value of $15.2 billion | Flash Report","https://news.futunn.com/en/post/72923170/another-deal-hengrui-pharma-partners-with-bms-in-strategic-collaboration",{"id":104,"title":101,"source":105,"logo":30,"time":63},889795,"https://www.moomoo.com/news/post/69808067/another-deal-hengrui-pharma-partners-with-bms-in-strategic-collaboration",{"id":107,"title":108,"source":109,"logo":5,"time":63},889794,"Hengrui's Deal With Bristol Myers Squibb Should Ease Concerns Over Dealmaking Slowdown -- Market Talk","https://news.futunn.com/en/post/72924695/hengrui-s-deal-with-bristol-myers-squibb-should-ease-concerns",{"id":111,"title":112,"source":113,"logo":5,"time":63},889793,"Hengrui Pharma's Stock Jumps on Massive $1B Collaboration with Bristol-Myers","https://stockinvest.us/digest/hengrui-pharmas-stock-jumps-on-massive-1b-collaboration-with-bristol-myers",{"id":115,"title":116,"source":117,"logo":24,"time":63},889792,"Bristol-Myers inks up to $15 billion licensing deal with Hengrui","https://www.msn.com/en-us/money/other/bristol-myers-inks-up-to-15-billion-licensing-deal-with-hengrui/ar-AA22YcAQ",{"id":119,"title":120,"source":121,"logo":34,"time":63},889791,"Hengrui, BMS Strike Huge $15.2bn Alliance For Bundle Of Preclinical Assets","https://insights.citeline.com/scrip/business/deals/hengrui-bms-strike-huge-152bn-alliance-for-bundle-of-preclinical-assets-4HE3IXJWOZC4LJQLM2QMHFGZCQ/",{"id":123,"title":124,"source":125,"logo":16,"time":63},889790,"Hengrui Pharma Shares Jump After $1 Billion Deal With Bristol Myers","https://meyka.com/blog/hengrui-pharma-shares-jump-after-1-billion-deal-with-bristol-myers-2605/",{"id":127,"title":128,"source":129,"logo":10,"time":63},892094,"China’s Hengrui, Bristol Myers Squibb sign collaboration, licensing deals","https://whbl.com/2026/05/11/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":131,"title":132,"source":133,"logo":5,"time":63},892095,"Hengrui Pharma shares surge on $1 bln Bristol-Myers partnership","https://www.investing.com/news/stock-market-news/hengrui-pharma-shares-surge-on-1-bln-bristolmyers-partnership-4678974",{"id":135,"title":136,"source":137,"logo":14,"time":63},891142,"China's Jiangsu Hengrui, Bristol Myers Squibb sign deals worth up to $15.2 billion","http://www.msn.com/en-us/health/other/china-s-jiangsu-hengrui-bristol-myers-squibb-sign-deals-worth-up-to-15-2-billion/ar-AA22Y70P",{"id":139,"title":140,"source":141,"logo":20,"time":63},889809,"Hengrui Pharma and Bristol Myers Squibb Announce Strategic Agreements to Advance Innovative Medicines Across Oncology, Hematology, and Immunology","https://www.manilatimes.net/2026/05/12/tmt-newswire/pr-newswire/hengrui-pharma-and-bristol-myers-squibb-announce-strategic-agreements-to-advance-innovative-medicines-across-oncology-hematology-and-immunology/2341325",{"id":143,"title":144,"source":145,"logo":33,"time":63},889808,"HENGRUI PHARMA (01276.HK) Surges Over 13% in PM After Striking Global Strategic Collaboration and Licensing Agreement with Bristol-Myers Squibb Company (BMY.US), to Receive USD950 million in Payments","http://www.aastocks.com/en/mobile/news.aspx?newsid=NOW.1524033&newstype=71&newssource=AAFN",{"id":147,"title":148,"source":149,"logo":5,"time":63},889807,"Hengrui Pharma (01276.HK) has entered into a global strategic collaboration and licensing agreement with Bristol-Myers Squibb (BMY.US), which could result in payments of up to USD 950 million.","https://news.futunn.com/en/post/72916204/hengrui-pharma-01276-hk-has-entered-into-a-global-strategic",{"id":151,"title":128,"source":152,"logo":10,"time":63},889806,"https://wsau.com/2026/05/11/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":154,"title":128,"source":155,"logo":10,"time":63},889805,"https://wincountry.com/2026/05/12/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":157,"title":128,"source":158,"logo":10,"time":63},889804,"https://wtaq.com/2026/05/11/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":160,"title":128,"source":161,"logo":10,"time":63},889803,"https://kelo.com/2026/05/11/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":163,"title":128,"source":164,"logo":10,"time":63},889802,"https://wkzo.com/2026/05/12/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":166,"title":167,"source":168,"logo":5,"time":63},889801,"Hengrui Pharma shares surge on $1 bln Bristol-Myers partnership By Investing.com","https://ng.investing.com/news/stock-market-news/hengrui-pharma-shares-surge-on-1-bln-bristolmyers-partnership-2500516",{"id":170,"title":171,"source":172,"logo":5,"time":63},889789,"Bristol Myers Squibb Strikes $15.2 Billion Drug Development Deal With Hengrui Pharma","https://www.benzinga.com/markets/equities/26/05/52477801/bristol-myers-squibb-strikes-15-2-billion-drug-development-deal-with-hengrui-pharma",{"id":174,"title":167,"source":175,"logo":5,"time":63},889800,"https://ca.investing.com/news/stock-market-news/hengrui-pharma-shares-surge-on-1-bln-bristolmyers-partnership-4628531",{"id":177,"title":178,"source":179,"logo":28,"time":63},889788,"BMS signs $15.2bn R&D alliance with China's Hengrui","https://pharmaphorum.com/news/bms-signs-152bn-rd-alliance-chinas-hengrui",{"id":181,"title":182,"source":183,"logo":32,"time":63},889787,"China’s Hengrui seals US$15.2 billion deal with US pharmaceutical giant BMS","https://www.scmp.com/business/china-business/article/3353263/chinas-hengrui-seals-us152-billion-deal-us-pharmaceutical-giant-bms",{"id":185,"title":136,"source":186,"logo":14,"time":63},889786,"https://www.msn.com/en-us/health/other/china-s-jiangsu-hengrui-bristol-myers-squibb-sign-deals-worth-up-to-15-2-billion/ar-AA22Y70P",{"id":188,"title":189,"source":190,"logo":5,"time":63},889785,"Bristol Myers Squibb Expands Pipeline With Hengrui Multi Billion Drug Alliance","https://finance.yahoo.com/sectors/healthcare/articles/bristol-myers-squibb-expands-pipeline-111542373.html",{"id":192,"title":193,"source":194,"logo":21,"time":63},889784,"Historic USD 15.2 Billion Pharma Collaboration Between Jiangsu Hengrui and Bristol Myers Squibb","https://www.devdiscourse.com/article/health/3905180-historic-usd-152-billion-pharma-collaboration-between-jiangsu-hengrui-and-bristol-myers-squibb",{"id":196,"title":197,"source":198,"logo":25,"time":63},889783,"Hengrui & BMS Seal $15.2B Deal: China-US Pharma","https://money.rediff.com/news/market/hengrui-bms-seal-15-2b-deal-china-us-pharma/46884720260512",{"id":200,"title":201,"source":202,"logo":23,"time":63},889782,"Bristol Myers and China’s Hengrui Pharma ink a licensing deal worth up to $15.2B","https://seekingalpha.com/news/4591156-bristol-myers-chinas-hengrui-ink-licensing-deal",{"id":204,"title":205,"source":206,"logo":26,"time":63},889781,"China’s Hengrui Jumps After Inking USD15 Billion Innovative Drug Deal With BMS","https://www.yicaiglobal.com/news/chinas-hengrui-jumps-after-inking-usd15-billion-innovative-drug-deal-with-bms",{"id":208,"title":182,"source":209,"logo":5,"time":63},891144,"https://www.msn.com/en-xl/money/other/china-s-hengrui-seals-us-152-billion-deal-with-us-pharmaceutical-giant-bms/ar-AA22Z5J2",{"id":211,"title":212,"source":213,"logo":27,"time":63},889780,"BMS, Hengrui strike $15.2B multi-asset pact","https://firstwordpharma.com/story/7422120",{"id":215,"title":216,"source":217,"logo":19,"time":63},891143,"Bristol Myers Squibb inks $15.2B drug deal with Hengrui","https://njbiz.com/bristol-myers-squibb-hengrui-15-billion-drug-deal/",{"id":219,"title":220,"source":221,"logo":29,"time":63},891146,"Bristol Myers, Hengrui Pharma Team Up in Global Drug Research Pact That Could Top $15B","https://medcitynews.com/2026/05/bristol-myers-squibb-hengrui-pharma-partnership-oncology-hematology-immunology-bms-bmy/",{"id":223,"title":224,"source":225,"logo":5,"time":63},891145,"BMS and Hengrui forge $15.2bn alliance for early-stage drugs","https://www.pharmaceutical-technology.com/news/bms-hengrui-15-2bn-collaboration-early-stage-drugs/",{"id":227,"title":128,"source":228,"logo":10,"time":63},891148,"https://kfgo.com/2026/05/11/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":230,"title":231,"source":232,"logo":5,"time":63},891147,"Hengrui Pharma And Bristol Myers Squibb Forge $15.2 Billion Strategic Alliance Across Oncology And Immunology","https://biopharmaapac.com/news/120/7929/hengrui-pharma-and-bristol-myers-squibb-forge-15-2-billion-strategic-alliance-across-oncology-and-immunology.html",{"id":234,"title":128,"source":235,"logo":10,"time":63},891149,"https://wtvbam.com/2026/05/12/chinas-hengrui-bristol-myers-squibb-sign-collaboration-licensing-deals/",{"id":237,"title":238,"source":239,"logo":31,"time":63},889779,"BMS, Hengrui build 13-asset pipeline in $15B+ onco-immune deal","https://www.biospace.com/business/bms-hengrui-build-13-asset-pipeline-in-15b-onco-immune-deal","#fd053eff","#fd053e4d",1778808655824]