Bristol Myers Squibb Partners With China’s Hengrui Pharma on More Than a Dozen Early-Stage Programs
Bristol Myers Squibb announced a partnership with Hengrui Pharma covering more than a dozen early-stage programs on May 12, 2026. Hims & Hers reported first-quarter sales of $608 million, below analyst estimates, and posted a net loss of $92 million. Other biotech developments included regulatory moves by BridgeBio, Roche and Rigel Pharma.
kr-asia.comBristol Myers Squibb announced a partnership with Hengrui Pharma covering more than a dozen early-stage programs on May 12, 2026. The deal represents the latest case of a global pharmaceutical company looking to China for its next medicines. Hims & Hers reported $608 million in first quarter sales yesterday.
That figure fell short of the $617 million estimated by analysts surveyed by Visible Alpha. The telehealth company also reported a net loss of $92 million. Analysts had estimated net income of $33 million for the quarter.
Separately, BridgeBio submitted an application to the FDA seeking approval of its drug encaleret to treat patients with autosomal dominant hypocalcemia type 1. The company submitted a second application to the FDA for the same drug to treat patients with ADh2. Autosomal dominant hypocalcemia type 1, or ADh2, is a rare genetic disease that causes low calcium levels in the blood.
Rigel Pharma will market the newly approved breast cancer drug Veppanu under a commercialization agreement signed with Arvinas and Pfizer. Roche received European clearance for a new blood test to detect early Alzheimer’s disease. Elaine Chen is the National Biotech Reporter who covers biotech, co-writes The Readout newsletter, and co-hosts STAT’s weekly biotech podcast The Readout Loud.
@statnews reported these developments in its May 12, 2026, edition of The Readout.
Key Facts
Story Timeline
5 events- 2026-05-12
Bristol Myers Squibb announces partnership with Hengrui Pharma covering more than a dozen early-stage programs
2 sources@statnews · Bristol Myers Squibb - 2026-05-11
Hims & Hers reports Q1 sales of $608 million and net loss of $92 million
1 sourceHims & Hers - 2026-05-12
BridgeBio submits FDA applications for encaleret in autosomal dominant hypocalcemia type 1 (ADh2)
1 source@statnews - 2026-05-12
Roche receives European clearance for new blood test to detect early Alzheimer’s disease
1 source@statnews - 2026-05-12
Rigel Pharma to market Veppanu under commercialization agreement with Arvinas and Pfizer
1 source@statnews
Potential Impact
- 01
Bristol Myers Squibb gains access to a large set of early-stage assets from Hengrui Pharma, potentially bolstering its pipeline
- 02
Hims & Hers shares may face downward pressure following the sales miss and widened loss relative to expectations
- 03
BridgeBio’s dual FDA submissions could lead to two distinct approval pathways for encaleret in a rare disease indication
- 04
Roche’s European clearance for an early Alzheimer’s blood test may accelerate diagnostic adoption in the region
Transparency Panel
Related Stories
NprWHO Director Visits Congo as Ebola Outbreak Spreads
The head of the World Health Organization arrived in Kinshasa to support efforts against a rare Ebola strain. Health workers face equipment shortages, community distrust, and armed conflict in affected provinces.
medpagetoday.comFDA Panel Recommends XFG Variant for Fall Covid Shots
Replimune will submit an application to the FDA for the third time. Pfizer and Innovent Biologics reached a collaboration agreement valued at up to $10.5 billion.
Benzinga Publishes Article on Biotech Stocks During Pandemic Recovery
Benzinga published an article titled 'Best Biotech Stocks Right Now' that addresses the sector's position during global recovery from the pandemic. The piece notes government institutions and professional traders are focusing on biotech companies for vaccine and booster developme…