# Bristol Myers Squibb

China’s Biotech Coming of Age: Hengrui and BMS Strike Record $15.2 Billion Alliance

Hengrui Pharmaceuticals and Bristol Myers Squibb have signed a landmark $15.2 billion strategic partnership to develop 13 early-stage drug candidates. The deal marks a record for Chinese biotech out-licensing and underscores the growing global reliance on Chinese innovation to replenish pharmaceutical pipelines.