One of America's largest pharmaceutical companies this week said it will partner with a Chinese drugmaker to test some of its experimental drugs and discover new ones, a deal that could mark the next phase of coordination across continents. Bristol Myers Squibb on Tuesday announced the potential multi-billion dollar partnership with one of China's top drugmakers, Hengrui Pharma. The companies will work together to develop about a dozen drugs, including four that Bristol discovered and will send to China for Hengrui to run the early-stage clinical trials. The pair of companies will also collaborate to discover new drugs. "It's a huge signal," said Michael Baran, head of private investments at healthcare-focused hedge fund Affinity Asset Advisors and a former partner at Pfizer Ventures. He said U.S. drugmakers have partnered with Chinese companies to develop drugs before, including Amgen's 2019 collaboration with BeOne. But Bristol's deal is significant because it is more reciprocal, he said.…