Big‑ticket licensing deals dominated the therapeutics market this week as Roche paid an $80 million upfront to license Hansoh Pharma’s CDH17‑targeting ADC for colorectal cancer and announced additional ADC agreements. The Hansoh deal carries up to $1.45 billion in milestones and transfers global development and commercialization rights to Roche. In parallel, Rani Therapeutics signed a pact with Chugai worth up to $1.08 billion to combine Rani’s oral delivery platform with a rare‑disease antibody asset. These transactions reflect continued pharma appetite for external innovation — particularly ADCs and novel delivery technologies — and underscore dealmaking as a rapid lever to fill late‑stage pipelines.