More top storiesMy shirt was soaked in blood - but I was told to get back on the rugby pitch
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这种BD驱动型的盈利模式的可持续性正在得到验证。2025年，百利天恒因其双抗ADC药物与BMS的合作，收到2.5亿美元里程碑付款；礼新医药与默沙东的合作收到的3亿美元技术转移付款；和黄医药、宜明昂科等也因产品获批或临床进展获得数千万美元级别的付款。这些案例表明，BD交易不仅是纸面富贵，而是能够持续兑现的真金白银。。业内人士推荐新收录的资料作为进阶阅读
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The debt-fueled AI buildout also changes the financial profile for some internet companies. “In an asset-light model, you tend to have higher equity multiples, and in an asset-rich model, you have multiples that are a little lower,” Mittal said.