Bristol Myers Squibb Co announced a drug discovery and development agreement with Jiangsu Hengrui Pharmaceuticals Co Ltd on 12 May which is expected to yield 13 new products across the oncology, haematology, and immunology sectors and be commercialised across the globe. The deal comes as Hengrui is expanding its market presence outside China and BMS is taking steps to generate new revenue in response to a loss of patent protection on some important medicines.
