Bristol Myers Squibb is striking a $15 billion drug licensing deal with China's Hengrui Pharma

The agreement covers 13 early-stage programs in oncology, hematology, and immunology, with $600 million due upfront

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Bristol Myers Squibb $BMY announced on Tuesday a collaboration and licensing agreement with China's Hengrui Pharma covering 13 early-stage programs, with a potential total value of up to $15.2 billion.

Under the terms, Bristol Myers will pay Hengrui up to $950 million through 2028, including a $600 million upfront payment, a $175 million payment on the first anniversary of closing, and a $175 million contingent payment in 2028. The full $15.2 billion figure includes milestone........

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