Big pharma alliance activity intensified as Roche paid $80 million upfront to license Hansoh Pharma’s early-stage colorectal cancer ADC and Rani Therapeutics signed a development and commercialization pact with Chugai worth up to $1.08 billion to combine Rani’s oral delivery platform with Chugai antibodies. Both deals show established companies buying access to differentiated delivery and ADC assets to expand oncology and rare‑disease portfolios. Roche’s Hansoh deal gives it global rights to a CDH17-targeting ADC with milestone payments and underscores Roche’s continued ADC investment. Rani’s agreement with Chugai links its oral biologic delivery technology to Chugai’s antibody pipeline for rare diseases, providing a path to potentially replace injections with orally delivered large molecules. The transactions emphasize industry appetite for platform and modality plays that can change administration routes and broaden patient access, and they set financial comparators for future licensing negotiations.