China biotech deals hit record as innovative drugs draw global interest

China biotech deals hit record as innovative drugs draw global interest

Deals reach US$60 billion in first quarter after analysts say Chinese biotech firms have shown substantial technological advancements.

China’s 2023 First-Quarter Overseas Licensing of Innovative Drugs Near Half of Last Year

China continues to make significant progress in the development of innovative medicines, with domestic pharmaceutical companies signing licensing agreements for new drugs nearly doubling the total from the previous year in the first quarter. So far this year, Chinese drug manufacturers have entered into licensing agreements for innovative medications valued at over $60 billion, according to a report from an official at the National Medical Produ…