Bristol-Myers Squibb(US:BMY) Jing Ji Guan Cha Bao·2025-09-20 02:07Group 1 - Bristol Myers Squibb (BMS) has signed an agreement to sell its 60% stake in the joint venture Shanghai Bristol-Myers Squibb Pharmaceutical Co., Ltd. (SASS) to an affiliate of Hillhouse Capital, with the transaction expected to be completed by early 2026 [1] - The joint venture currently has BMS holding 60%, Shanghai Pharmaceuticals holding 30%, and China National Pharmaceutical Group Asset Management holding 10% [1] - BMS did not disclose the identity of the buyer in its response, and Hillhouse Capital did not deny the news regarding the acquisition [1] Group 2 - Since 2018, the profitability of off-patent original research drugs has been significantly compressed in the Chinese market due to the implementation of centralized procurement policies, making it difficult for multinational pharmaceutical companies to achieve high returns from these products [2] - BMS reported a cumulative revenue of $23.47 billion for the first half of 2025, a decrease of 2.48% compared to $24.07 billion in the same period last year [2]