Large biopharma licensing deals expand external pipelines

Boehringer Ingelheim’s agreement with SBP Group covers six preclinical oncology programs, with $358 million upfront/near-term and up to $7 billion in contingent milestones. Fresenius secured options on up to 37 biosimilar candidates from WuXi Biologics, while Brise licensed two preclinical migraine programs to AbbVie. Program selection, development progress and milestone realization are the main uncertainties.