Bristol-Myers Squibb
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.14 | 24 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 2 | ×1.50 | 10 |
| phase 3 | ×0.70 | 6 |
| approved | ×1.23 | 6 |
| phase 1 | ×1.50 | 3 |
| preclinical | ×1.50 | 3 |
Strategy profile
Based on 15 disclosed transactions, Bristol-Myers Squibb concentrates its licensing activity in Oncology, Immunology, and Mega Deals. Bristol-Myers Squibb pays a 1.28x premium over market median, with the strongest premiums in Oncology (1.14x). Their most common deal structure is License, with an average disclosed value of $5.0B. Most recent activity: 2026.
Premium by therapeutic area
How Bristol-Myers Squibb pays relative to peer medians in each TA
Pipeline coverage & gaps
Bristol-Myers Squibb has disclosed activity in 1 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| LicensePrimary | 7 | $437M | $3.1B |
| Collaboration | 6 | $202M | $6.4B |
| Option | 1 | $16M | $161M |
| Co Development | 1 | $600M | $15.2B |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | broad drug partnership | Hengrui Pharmaceuticals | — | unknown | — | $15.2B |
| 2026 | Multi-asset collaboration (13 programs) | Hengrui Pharmaceuticals | oncology/hematology/immunology | discovery | $600M | $15.2B |
| 2026 | — | Janux Therapeutics | solid tumors | preclinical | $50M | $850M |
| 2025 | PSMA | Daiichi Sankyo | Breast (TNBC) | discovery | $16M | $161M |
| 2025 | ATR | Ono Pharmaceutical | AML | approved | — | $319M |
| 2025 | KRAS G12C | Sana Biotechnology | Breast (HR+) | discovery | $8M | $106M |
| 2025 | solid tumors | BioNTech | solid tumors | phase_2 | $1.5B | $5.0B |
| 2025 | solid_tumors | LaNova Medicines | solid_tumors | phase_1 | $200M | $2.8B |
| 2025 | myastheniaGravis | Cabaletta Bio | myastheniaGravis | phase_1 | $175M | $1.5B |
| 2025 | 13-program global strategic collaboration | Hengrui | — | unknown | $600M | $15.2B |
| 2025 | BNT327 | BioNTech | oncology | unknown | — | $11.1B |
| 2025 | Danicamtiv | Kardigan | Genetic dilated cardiomyopathy | phase_2 | $300M | $800M |
| 2024 | iPSC Allogeneic CAR-T | Century Therapeutics | Systemic Lupus Erythematosus | phase_1 | $150M | $3.2B |
| 2024 | CAR-T enhancement | Prime Medicine | CAR-T enhancement | preclinical | $110M | $3.6B |
| 2024 | SOT101 + CAR-T autoimmune | Sotio Biotech | Autoimmune (broad) | preclinical | $100M | $500M |
How this is computed
For each Bristol-Myers Squibb deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 30 disclosed deal premiums vs. peer medians. Raw premium 1.279, clamped to [0.7, 1.5].