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<Research>M Stanley: HENGRUI PHARMA Forms USD15.2B Strategic Partnership with BMS to Accelerate Globalization
Morgan Stanley said that HENGRUI PHARMA (01276.HK) and Bristol-Myers Squibb Company (BMS) (BMY.US) announced a global strategic partnership covering 13 pre-clinical assets, with a ...
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<Research>M Stanley: HENGRUI PHARMA Forms USD15.2B Strategic Partnership with BMS to Accelerate Globalization
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Morgan Stanley said that HENGRUI PHARMA (01276.HK)  +0.350 (+0.598%)    Short selling $30.98M; Ratio 20.027%   and Bristol-Myers Squibb Company (BMS) (BMY.US)      announced a global strategic partnership covering 13 pre-clinical assets, with a total deal value of USD15.2 billion. The transaction includes an upfront payment of USD600 million, combined annual payments of USD350 million for 2027-28, up to USD14.3 billion in milestone payments, and tiered sales-based royalties.

The broker believed this strategic collaboration, spanning multiple formats and asset modalities, further validates HENGRUI PHARMA's early-stage R&D platform and enhanced globalization capabilities. Beyond near-term cash proceeds, the reciprocal collaboration structure and co-development and co-commercialization could also accelerate HENGRUI PHARMA's globalization pace and generate commercial synergies in the China market for its expanding immunology portfolio.

Related News Citi Lists Latest H Shrs Buy Top Picks (Table)
Morgan Stanley maintained HENGRUI PHARMA as its top pick in China's healthcare sector, assigning an Overweight rating with a target price of HKD92 for its H shares.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-02 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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