BMS just signed a $15.2 billion drug deal with China’s biggest pharma company. The patent cliff left it no choice.
TL;DR
Bristol Myers Squibb signed a $15.2 billion deal with China’s Hengrui Medicine for 13 early-stage drug programmes, as Big Pharma’s patent cliff makes Chinese innovation the fastest path to commercial survival — even as the BIOSECURE Act tries to decouple the two countries’ biotech sectors.
Bristol Myers Squibb has signed a deal worth up to 15.2 billion dollars with Jiangsu Hengrui Medicine, China’s largest pharmaceutical company by market capitalisation. The agreement covers 13 early-stage drug programmes across oncology, haematology, and immunology. None of the drugs have entered human clinical trials. The deal was announced on the same day that President Trump flew to Beijing for his first state visit to China in his second term.
The timing is coincidence. The economics are not. Bristol Myers Squibb is staring at a patent cliff that will strip roughly 300 billion dollars in revenue from the global pharmaceutical industry by 2030. Its...
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