Bristol-Myers Squibb To Out-License Drugs To Roche & Biogen For A Total Of $470 Million In Cash

Bristol-Myers Squibb Co. has forged a pair of separate pacts with Roche Holding Ltd. & Biogen Inc. to out-license two drugs, grabbing a whopping $470 million upfront for the deals, another $615 million in possible milestone payouts plus royalties.