Bristol-Myers Squibb
Pays vs peer median
×1.28
+28% premium
Sample
30
high confidence
Last refreshed
2026-04-13
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 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | multi-asset (13 programs) | Hengrui | oncology/hematology/immunology | discovery | $600M | $15.2B |
| 2026 | Hengrui oncology pipeline candidates | Hengrui Pharmaceuticals | oncology | unknown | — | $15.2B |
| 2026 | Multiple Hengrui assets (portfolio deal) | Jiangsu Hengrui | oncology and other areas | unknown | — | $15.0B |
| 2026 | Multi-asset alliance (up to 13 drugs) | Hengrui Medicine | oncology and immunology | unknown | — | $15.2B |
| 2026 | Multiple Hengrui pipeline assets | Jiangsu Hengrui | oncology/immunology | unknown | — | $15.2B |
| 2026 | CD22-mab | Editas Medicine | Sarcoma | phase_1 | $45M | $484M |
| 2026 | — | Janux Therapeutics | solid tumors | preclinical | $50M | $850M |
| 2026 | RET-mab | Forma Therapeutics | NSCLC | phase_2 | $107M | $585M |
| 2026 | PARP-tinib | IGM Biosciences | MPN | phase_3 | $284M | $2.2B |
| 2025 | HER3-tinib | Nektar Therapeutics | SCLC | phase_2 | $216M | $1.6B |
| 2025 | MUC1-001 | Kelun-Biotech | Pancreatic | phase_2 | — | $843M |
| 2025 | PSMA | Daiichi Sankyo | Breast (TNBC) | discovery | $16M | $161M |
| 2025 | B7-H4-tinib | Mirati Therapeutics | Gastric | phase_2 | $216M | $2.2B |
| 2025 | Anti-BRAF V600E-101 | RemeGen | Breast (HER2+) | phase_3 | $893M | $7.7B |
| 2025 | PSMA-ciclib | Alkermes | MDS | phase_1 | $147M | $1.0B |
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].