BioNTech SE's $11.1B oncology move signals potential, but clinical hurdles remain. Click for my look at the BNTX deal with Bristol-Myers and its impact on the firm.

Could the world’s best-selling drug have competition on the way? American pharmaceutical giant Bristol Myers Squibb agreed Monday to pay up to $11.1 billion to partner with Germany’s BioNTech and co-develop its next-generation immunotherapy for cancer,

By Michael Erman and Ludwig Burger (Reuters) -Bristol Myers Squibb will pay $1.5 billion upfront to partner with Germany's BioNTech on an experimental cancer drug, the U.S. company said on Monday, in a deal that could eventually exceed $11 billion in value for BioNTech.