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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.
May 12, 12:22 PM·1m read1 source
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Bristol 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.
