财经早察主播董静怡最近投资圈最火的词莫过于“BD交易”。BD,全称Business Development,直译是“商务拓展”,但在医药行业,它代表着一种更高级的玩法——通过License-out(对外授权)、License-in(引进授权)甚至股权合作,让创新药的价值在全球市场加速兑现。简单来说,就是中国药企把自主研发的新药“卖”给国际巨头,换取首付款、里程碑付款和未来销售分成。今年最轰动的BD...
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