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Bringing Together Caregivers, Clinicians, and Researchers to Advance Dementia and Alzheimer’s Care New York, March 30, 2026 – CaringKind hosted its first Dementia & Alzheimer’s Education Conference at the New York Academy of Medicine, bringing together caregivers, clinicians, researchers, and people living with dementia. The sold-out event focused on best practices, patient support innovations, and the latest research insights. Keynotes included David Hyde Pierce and leading experts Dr Tobe Banc, Dr Sara Czaja, Dr Kendra Ray, and Dr Mary Sano, who covered emerging approaches to care and strategies to improve patient well-being. The conference offered hands-on workshops, panel discussions, and networking sessions, along with AMA PRA Category 1 Credits™, nursing, and psychologist contact hours, plus continuing education credits for social workers in New York State. Top Takeaways from the Conference: Caregiver Support: Practical strategies to reduce burnout and enhance patient care at home. Clinical Insights: Latest research on dementia progression and early intervention approaches. Patient Empowerment: Innovative tools to engage people living with dementia in daily life. Interdisciplinary Collaboration: Opportunities for caregivers, clinicians, and researchers to share knowledge. Industry Involvement: Sponsors like Bristol Myers Squibb, Biogen, Acadia, Eisai, Axsome, and Novartis are supporting education initiatives. “Under one roof, we unite family caregivers, healthcare professionals, and researchers to share knowledge and advance dementia care,” said Eleonora Tornatore-Mikesh, CaringKind CEO. Learn more and plan for next year: ckconference.org Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

New oral weight-loss treatment enters the market as competition with Novo Nordisk’s oral Wegovy accelerates. The FDA has approved Eli Lilly’s oral GLP-1 drug Foundayo (orforglipron) for weight management, supported by Phase III trial data showing significant weight loss in patients. The approval marks a major step in the growing oral obesity treatment market, setting up increased competition with Novo Nordisk’s oral semaglutide. Alert Type FDA Approval Drug/Device Name Foundayo (orforglipron) Indication Chronic weight management / Obesity Therapy Area(s) Obesity, Metabolic, Endocrinology Geography United States What Changed The FDA approved Eli Lilly’s oral GLP-1 agonist Foundayo (orforglipron) for weight management, becoming the first new molecular entity approved under the FDA Commissioner’s National Priority Voucher programme. The approval was supported by Phase III ATTAIN-1 trial data showing up to 12.4% weight loss at 72 weeks. Clinical Relevance Provides a new oral GLP-1 treatment option for obesity that can be taken without food or water restrictions, potentially improving adherence and expanding access compared with existing oral GLP-1 therapies. Source Link https://firstwordpharma.com/story/7156789 Date 2-Apr-2026 Status Draft Notes Competes directly with Novo Nordisk’s oral semaglutide (Wegovy). Label includes simvastatin dosing considerations. Analysts forecast strong sales growth and major competition in oral obesity market. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Keytruda now approved across EU for PD-L1-positive platinum-resistant ovarian, fallopian tube, and primary peritoneal carcinoma. Merck’s Keytruda, combined with paclitaxel with or without bevacizumab, has received European Commission approval for adults with PD-L1-positive platinum-resistant ovarian cancer, following positive Phase III KEYNOTE-B96 trial results showing improved progression-free and overall survival. The approval also covers Keytruda SC (Keytruda Qlex in the US), providing Europe’s first PD-1 inhibitor-based treatment option for this patient population. Alert Type European Commission Approval Drug/Device Name Keytruda (pembrolizumab) ± paclitaxel ± bevacizumab; Keytruda SC (Keytruda Qlex in US) Indication PD-L1-positive platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal carcinoma Therapy Area(s) Oncology, Gynecologic Oncology, Immunotherapy Geography European Union (27 member states), Norway, Iceland, Liechtenstein What Changed The EC approved Keytruda combination therapy for adults with PD-L1-positive platinum-resistant ovarian cancer following positive Phase III KEYNOTE-B96 trial results showing improved progression-free and overall survival. Approval includes Keytruda SC (Keytruda Qlex in the US). Clinical Relevance Provides the first PD-1 inhibitor-based treatment option for this patient population in Europe, expanding access and offering a clinically meaningful survival benefit for PD-L1-positive platinum-resistant ovarian cancer patients. Source Link https://www.merck.com/news/msd-secures-ec-clearance-for-keytruda-combination-therapy-for-ovarian-cancer/ Date 1-Apr-2026 Status Draft Notes Approval follows FDA approval in Feb 2026; based on Phase III KEYNOTE-B96 (ENGOT-ov65); includes adults who had 1–2 prior systemic regimens. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Strategic move enhances vascular access and specialty device offerings, reinforcing Merit’s position in a consolidating med‑tech market. Merit Medical Systems has acquired View Point Medical through a merger aimed at strengthening its interventional solutions business and broadening its medical device portfolio. The acquisition brings View Point’s established vascular access product line into Merit’s ecosystem, offering new technologies and expanded customer reach across hospitals and specialty care settings. Reinforcing Merit’s Portfolio Strategy The strategic motivation behind the deal reflects Merit’s growth strategy of acquiring companies that provide complementary technologies and expand its solution footprint. As healthcare providers demand integrated procedural solutions, particularly in vascular access and minimally invasive therapies, larger med‑tech companies like Merit are increasingly buying innovation from focused, nimble innovators. With ongoing pressure on hospitals to deliver efficient care and reduce complications associated with vascular access and interventional procedures, having a robust, end‑to‑end product suite gives Merit a competitive edge. A Broader Trend in Medical Technology This acquisition follows a wider trend in the medical device industry. Major device manufacturers are actively acquiring smaller, specialised firms to accelerate innovation and market reach, rather than relying solely on organic R&D. Across specialties such as cardiology, interventional radiology, and vascular access, there has been a steady stream of partnerships and buys as companies scale technologies that solve specific procedural challenges. What This Means for the Industry The Merit–View Point Medical deal highlights three key industry trends: Platform expansion through strategic acquisition - Established med‑tech companies are integrating adjacent technologies to create more comprehensive portfolios. Focus on procedural efficiency and outcomes - Investors and acquirers are prioritising device technologies that improve procedural performance and patient care. Accelerated consolidation in med‑tech - Smaller innovators with differentiated platforms are increasingly targets for acquisition. As consolidation continues, strategic deals like this one are likely to remain a central feature of growth strategies in the medical technology sector. Summary As Merit Medical Systems extends its product suite through the acquisition of View Point Medical, this deal underscores the growing importance of strategic mergers in med‑tech, where scale, complementary technologies, and procedural breadth are key to staying competitive in an evolving market. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Deal highlights accelerating pharma shift into rare metabolic disorders and obesity-adjacent indications as companies hunt for de-risked, high-value assets. Neurocrine Biosciences has agreed to acquire Soleno Therapeutics in a $2.9 billion all-cash deal, marking the company’s largest acquisition to date and securing access to Vykat XR, a recently approved therapy for Prader-Willi syndrome. The acquisition strengthens Neurocrine’s position in rare disease and metabolic disorders, adding a first-in-class treatment for hyperphagia and expanding its commercial rare disease portfolio alongside Ingrezza and Crenessity. A Strategic Move Into Rare Metabolic Disorders The deal centres on Soleno’s Vykat XR (diazoxide choline), the first FDA-approved treatment for hyperphagia associated with Prader-Willi syndrome. The drug has already demonstrated early commercial traction following its 2025 launch, generating approximately $190 million in sales in its first year. For Neurocrine, the acquisition provides an immediate revenue-generating asset alongside a long-dated patent position, with exclusivity expected into the mid-2040s. Why This Deal Matters Now This acquisition reflects a broader strategic pivot across the pharmaceutical industry toward rare disease and metabolic adjacencies, particularly conditions linked to obesity biology but outside the highly competitive GLP-1 space. Rather than competing directly in crowded obesity markets dominated by GLP-1 therapies, companies are increasingly targeting: Rare genetic drivers of hyperphagia Neurological-endocrine crossover conditions High-unmet-need populations with clear regulatory pathways What This Means for the Industry The Neurocrine–Soleno deal underscores three key industry trends: Rare disease remains a core M&A growth engine Metabolic disorders beyond GLP-1s are becoming strategic targets Pharma is increasingly buying de-risked, revenue-generating assets Summary Neurocrine’s $2.9 billion acquisition of Soleno reflects a clear strategic push into rare metabolic disease, reinforcing a broader industry shift toward de-risked assets and niche, high-value therapeutic markets. As competition intensifies in obesity and endocrinology, companies are increasingly seeking differentiated positions rather than direct competition in crowded drug classes. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

VARIPURE study data highlights high arrhythmia-free rates and low adverse events, alongside expanded CE mark enabling broader ablation strategies. Johnson & Johnson has reported 12-month interim results from the VARIPURE study, showing 84.2% freedom from atrial arrhythmia recurrence and a low 0.8% adverse event rate in patients treated with its Varipulse pulsed field ablation platform. The updated CE mark allowing ablation beyond pulmonary veins further strengthens the platform’s potential in treating more complex atrial fibrillation cases. Alert Type Clinical Data / Study Update Drug/Device Name Varipulse PFA Platform (Varipulse catheter, Trupulse generator, Carto 3 mapping system) Indication Atrial fibrillation (AFib), including paroxysmal and persistent AFib Therapy Area(s) Cardiology, Electrophysiology Geography Europe What Changed Johnson & Johnson reported 12-month interim results from the VARIPURE study, showing 84.2% freedom from atrial arrhythmia recurrence and a low 0.8% adverse event rate in AFib patients treated with the Varipulse PFA platform. The device also received an updated CE mark enabling ablation beyond pulmonary veins. Clinical Relevance Demonstrates strong real-world efficacy and safety for pulsed field ablation, with expanded treatment capability for persistent AFib and broader ablation strategies, potentially improving outcomes in complex arrhythmia patients. Source Link https://www.jnj.com/ Date 16-Apr-2026 Status Draft Notes VARIPURE study includes 1,023 patients across 22 European sites; 12-month data available for 442 patients. Results presented at EHRA 2026 and published in Europace. Varipulse Pro recently launched in Europe. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Listing of anonymised health data for 500,000 participants highlights growing tension between data access, global research collaboration, and patient trust. A significant data governance incident involving the UK Biobank has brought renewed scrutiny to how de-identified patient records are accessed, shared, and monitored across global research networks. The UK government has confirmed that health data linked to approximately 500,000 participants was listed for sale on the Chinese platform Alibaba, following what has been described not as a cyberattack, but a misuse of legitimately accessed data by accredited researchers. What Happened According to statements from UK officials and Biobank leadership, the dataset did not include direct identifiers such as names, addresses, or contact details. However, it did contain: Age and gender Month and year of birth Socioeconomic indicators Lifestyle data Biological and clinical measurements While technically anonymised, this level of granularity reflects the depth and richness of modern real-world datasets, raising important questions about re-identification risk. Access to the data has since been suspended for the institutions involved, and the listings were removed following cooperation between UK authorities, Chinese regulators, and Alibaba. Why This Matters: The Limits of “De-Identified” Data At the core of the issue is a fundamental tension in healthcare data: De-identified data enables large-scale research — but increasing dataset complexity makes true anonymity harder to guarantee. Experts have long warned that combining multiple variables (e.g. age, location, clinical history) can make it possible to re-identify individuals, particularly in large, longitudinal datasets like UK Biobank. This incident reinforces a key reality for the industry: De-identification is not a binary state — it exists on a spectrum of risk. A Systemic Issue, Not a One-Off Breach Importantly, the government clarified this was not a cybersecurity failure, but rather a governance breakdown: Data was accessed legally Researchers were accredited The breach occurred post-download This shifts the conversation away from hacking risk and toward data stewardship and downstream control, an area that is becoming increasingly critical as real-world data (RWD) ecosystems expand. As datasets become more valuable, the weakest point is no longer access, but usage control after access is granted. Impact on Research and Public Trust UK Biobank is one of the most influential health data initiatives globally, contributing to over 18,000 scientific publications and supporting advances in areas such as: Dementia Cancer detection Parkinson’s disease Its success depends on continued public participation. However, incidents like this risk undermining that trust. Even if no personal identities were exposed, perception matters — and public confidence is a foundational asset in large-scale health data projects. A decline in participation, even marginal, could have downstream effects on: Dataset quality Statistical reliability Long-term research outcomes What Happens Next UK Biobank has already implemented immediate controls, including: Suspension of platform access Limits on data export volumes Daily monitoring of data activity A full forensic investigation Regulatory oversight is also increasing, with the UK’s Information Commissioner’s Office reviewing the incident. What This Means for the Industry This incident highlights several critical trends shaping the future of healthcare data: Governance is overtaking access as the key risk area in real-world data ecosystems De-identified data still carries regulatory and ethical risk, particularly as datasets become richer Global collaboration introduces jurisdictional complexity, especially across differing data standards Trust is becoming a competitive advantage for organisations managing patient data For pharmaceutical companies, data aggregators, and healthcare platforms, the takeaway is clear: The value of real-world data is only as strong as the trust framework that underpins it. Summary The UK Biobank incident is not just a data governance issue; it is a signal of where the industry is heading. As healthcare data becomes more powerful, more granular, and more globally shared, the challenge is no longer just collecting data, but controlling, protecting, and justifying its use. Maintaining that balance will be essential to sustaining both innovation and public trust in the next generation of healthcare research. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Securing a next-generation JAK2 inhibitor strengthens Lilly’s position in rare blood cancers as pharma accelerates investment in mechanism-driven oncology assets. Eli Lilly continues its aggressive oncology expansion with the acquisition of Ajax Therapeutics, strengthening its position in blood cancers and JAK-driven diseases as pharma companies compete for de-risked, mechanism-led assets in rare oncology. Eli Lilly has agreed to acquire Ajax Therapeutics in a deal worth up to $2.3 billion, securing access to AJ1-11095, a once-daily oral Type II JAK2 inhibitor currently in Phase I development for myelofibrosis. The acquisition adds a differentiated haematology asset to Lilly’s oncology portfolio, complementing its existing presence in JAK inhibition and reinforcing its broader strategy of targeting genetically defined cancer pathways. A Strategic Move Into JAK-Driven Blood Cancers The centrepiece of the deal is Ajax’s lead programme AJ1-11095, a selective Type II JAK2 inhibitor designed for patients with myeloproliferative neoplasms (MPNs), including myelofibrosis. Unlike existing therapies such as ruxolitinib and fedratinib, which are already established in the market, AJ1-11095 is positioned as a next-generation option aimed at overcoming resistance seen in Type I JAK inhibitors while delivering deeper and more durable responses. The asset is currently in a Phase I clinical trial evaluating patients previously treated with JAK inhibitors, with dose selection expected in 2026. For Lilly, the acquisition provides early access to a mechanism-driven oncology asset with both first- and second-line potential in a rare and underserved cancer population. Why This Deal Matters Now This acquisition reflects a broader trend in pharmaceutical M&A toward precision oncology and pathway-specific assets, particularly in areas where: Existing therapies show resistance over time Patient populations are genetically or mechanistically defined Development pathways offer faster regulatory clarity Rather than competing in broad oncology categories, companies are increasingly focusing on targeted disease biology, especially in haematology and rare blood cancers. Ajax’s approach to selective JAK2 inhibition aligns with this shift, targeting disease mechanisms rather than broad pathway suppression. What This Means for the Industry The Lilly–Ajax deal highlights three key industry trends: Oncology M&A remains a primary engine of pharmaceutical growth Blood cancers continue to attract investment in next-generation targeted therapies Pharma companies are prioritising mechanism-led, de-risked early assets At the same time, competition in the JAK inhibitor space remains active, with established therapies such as Jakafi (ruxolitinib) and Inrebic (fedratinib) setting a high efficacy and safety benchmark. Lilly’s continued acquisition activity signals a clear intent to build depth in oncology ahead of broader patent and pipeline pressures across the industry. Summary Lilly’s $2.3 billion acquisition of Ajax Therapeutics reinforces a sustained shift toward precision-driven oncology investment, with a focus on rare blood cancers and next-generation kinase inhibition strategies. As competition intensifies in haematological malignancies, pharma companies are increasingly prioritising early access to differentiated mechanisms that can expand across multiple lines of therapy. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

First oral GLP-1 tablet expands cardiovascular-protected diabetes treatment beyond injectable semaglutide Novo Nordisk has launched Ozempic as an oral GLP-1 pill in the US for adults with type 2 diabetes, marking a major expansion of semaglutide into tablet form with added cardiovascular risk reduction benefits. The treatment will be widely distributed across US pharmacies and offers a new non-injectable option for patients managing both blood sugar and cardiovascular risk. Alert Type Drug Approval Drug/Device Name Ozempic oral pill (semaglutide) Indication Type 2 diabetes in adults, including cardiovascular risk reduction (MACE prevention) Therapy Area(s) Endocrinology, Metabolic Disease, Cardiovascular Risk Geography United States (FDA) What Changed Novo Nordisk has launched Ozempic as an oral GLP-1 tablet in the US for type 2 diabetes, offering both glycaemic control and cardiovascular risk reduction. The therapy will be distributed nationwide and produced entirely in the US, with multiple dose options and pharmacy access across 70,000 locations. Clinical Relevance Provides a new oral GLP-1 option with proven cardiovascular benefit, expanding treatment choice beyond injectable semaglutide and supporting earlier intervention in high-risk type 2 diabetes patients. Source Link https://www.globaldata.com/newsletter/details/novo-nordisk-to-launch-ozempic-for-type-2-diabetes-in-us_382615 Date May 2026 Status Draft Notes First oral peptide GLP-1 in the US approved for both glycaemic control and cardiovascular risk reduction. Builds on prior Rybelsus formulation and injectable Ozempic. Pricing varies from ~$25 insured to $149–$299 self-pay. Further 25mg tablet submission under FDA review with decision expected end of 2026. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

A strategic move into bispecific antibodies as pharma races to redefine autoimmune treatment through targeted immune cell depletion and next-generation T cell engagers UCB strengthens its position in autoimmune disease with the acquisition of Candid Therapeutics, signalling a deeper industry shift toward bispecific antibodies and next-generation immune reprogramming therapies. UCB has agreed to acquire Candid Therapeutics in a deal worth up to $2.2 billion, gaining access to a portfolio of bispecific antibody therapies targeting autoimmune diseases through selective immune cell depletion and immune system “reset” mechanisms. The acquisition adds multiple early-stage assets, including cizutamig and CND261, to UCB’s immunology pipeline and reinforces its strategy of building a next-generation portfolio in immune-mediated diseases. A Strategic Bet on Bispecific Antibodies in Autoimmunity The centrepiece of the deal is Candid’s bispecific antibody platform, which redirects T cells to eliminate pathogenic B cells implicated in autoimmune disease progression. Lead asset cizutamig targets BCMA on B cells and is being evaluated across multiple autoimmune indications following early clinical studies in more than 100 patients, including both multiple myeloma and immune-mediated diseases. Unlike traditional immunosuppressants, these therapies aim to achieve deeper disease control by selectively removing disease-driving immune cells rather than broadly suppressing immune function. UCB has positioned the asset as a potential “best-in-class” T cell engager, highlighting its potential to reduce harmful immune activation while minimising risks such as cytokine release syndrome. Why This Deal Matters Now This acquisition reflects a broader acceleration in autoimmune drug development toward targeted immune cell depletion strategies, particularly: Bispecific antibodies replacing broad immunosuppression approaches T cell engagers emerging as scalable alternatives to cell therapy Precision immunology targeting specific immune cell pathways Pharma companies are increasingly exploring approaches that “reset” immune dysfunction rather than simply controlling inflammation, with growing interest from major players across immunology and oncology. Recent deals in this space from companies such as Merck, Sanofi, and Gilead highlight the competitive intensity behind this emerging therapeutic class. What This Means for the Industry The UCB–Candid deal underscores three key industry trends: Autoimmune disease is becoming a major frontier for bispecific antibody innovation T cell engager platforms are attracting increasing M&A activity Pharma is prioritising mechanism-driven immune reprogramming over symptomatic control At the same time, competition is intensifying as companies race to define the first wave of scalable, next-generation autoimmune therapies that can move beyond chronic immunosuppression. UCB’s acquisition signals a clear intent to establish leadership in this emerging category. Summary UCB’s $2.2 billion acquisition of Candid Therapeutics highlights a decisive shift in autoimmune drug development toward bispecific antibody platforms and immune reset mechanisms. As the field moves away from broad immunosuppression, pharma companies are increasingly competing to define targeted immune cell therapies that could reshape long-term treatment strategies in autoimmune disease. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Deal strengthens Bayer’s position in retinal disease and glaucoma as long-acting ophthalmology therapies attract growing investment. Bayer has agreed to acquire Perfuse Therapeutics in a deal worth up to $2.45 billion, adding investigational ophthalmology therapy PER-001 to its pipeline for glaucoma and diabetic retinopathy. The acquisition strengthens Bayer’s retinal disease portfolio as the company looks beyond anti-VEGF therapies and toward longer-acting treatments targeting vascular dysfunction in chronic eye disease. Alert Type Acquisition / Pipeline Expansion Drug/Device Name PER-001 Indication Glaucoma and diabetic retinopathy Therapy Area(s) Ophthalmology, Retina, Glaucoma, Diabetic Eye Disease Geography Global What Changed Bayer has agreed to acquire Perfuse Therapeutics in a deal worth up to $2.45 billion, adding investigational ophthalmology therapy PER-001 to its pipeline. The intravitreal implant has completed Phase II studies in glaucoma and diabetic retinopathy, showing significant vision improvements versus control. Clinical Relevance Expands Bayer’s ophthalmology pipeline beyond anti-VEGF therapies with a potential long-acting treatment targeting retinal perfusion and vascular dysfunction, areas of growing interest in chronic eye disease management. Source Link https://www.bayer.com/ Date 6-May-2026 Status Draft Notes Deal includes $300m upfront plus development, regulatory, and commercial milestones. PER-001 is a small-molecule endothelin receptor antagonist delivered via a six-month intravitreal implant. Acquisition comes as Bayer faces increasing biosimilar competition and pricing pressure around Eylea (aflibercept). Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

Bristol Myers Squibb’s expanding partnership strategy signals how China is evolving from a biotech sourcing market into a core pillar of global pharmaceutical R&D The agreement includes four immunology assets for co-development alongside five new innovative assets to be jointly discovered by both companies, marking one of the clearest examples yet of Western pharma integrating Chinese biotech into long-term R&D strategy. The deal also reinforces how China is evolving from a manufacturing and commercial market into a core source of pharmaceutical innovation, with BMS directing nearly 50% of its global upfront deal cash since 2024 into the region. China Is Becoming More Than a Licensing Market For years, Western pharmaceutical companies primarily viewed China as a growth market or manufacturing base. That dynamic is now changing rapidly. Rather than simply acquiring rights to late-stage assets, global pharma companies are increasingly embedding themselves deeper into Chinese biotech ecosystems through strategic partnerships, co-development structures and shared discovery platforms. BMS’s latest agreement with Hengrui reflects this evolution. Unlike more traditional licensing arrangements, the partnership involves collaborative R&D and long-term pipeline generation rather than isolated asset acquisition. The company has already demonstrated this growing focus through its $1.5 billion deal involving BioNTech and Biotheus centred around a PD-(L)1/VEGF bispecific antibody. Why This Matters for the Pharmaceutical Industry The deal highlights several wider trends reshaping global pharma: Chinese biotech companies becoming central innovation partners rather than regional operators Western pharma increasing reliance on external R&D ecosystems Co-development models replacing purely transactional licensing agreements China emerging as a major source of next-generation immunology and oncology assets Major pharmaceutical companies including AstraZeneca, Roche, Merck & Co. and AbbVie have all expanded their China deal activity in recent years. However, BMS’s concentration of capital allocation toward the region suggests a particularly aggressive strategic positioning. What This Means Going Forward The BMS–Hengrui partnership reflects how the global balance of pharmaceutical innovation may be shifting eastward. As Chinese biotech capabilities continue to mature, partnerships are becoming less about opportunistic access to individual assets and more about integrating China directly into long-term pipeline strategy. This raises broader strategic questions for the industry around supply chains, intellectual property, geopolitical exposure and future R&D dependence. At the same time, it reinforces the growing reality that many of the next decade’s most important pharmaceutical breakthroughs may increasingly emerge from collaborative global innovation networks centred around China. Summary Bristol Myers Squibb’s expanded partnership with Hengrui Pharma signals a deeper shift in how global pharma companies engage with China’s biotech sector. As co-development and shared discovery models accelerate, China is increasingly positioning itself not just as a market for pharmaceuticals, but as one of the industry’s most important engines of innovation. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com