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- In 2023, Chinese innovative pharmaceutical companies achieved a "net export" in drug transactions, with disclosed overseas licensing deals surpassing $45 billion. Despite the financing "winter" in the pharma industry and a slowdown in domestic IPOs, these transactions signify a positive development for Chinese pharma companies, providing crucial cash flow during industry downturns and validating their global participation.
- High-profile deals include Baiji Shenzhou's agreement with Bristol Myers Squibb potentially worth up to $8.4 billion for a dual-antibody ADC project, highlighting the shift towards innovative drugs and international market penetration. Additionally, AstraZeneca's acquisition of Conch Biotech for $1.2 billion marks significant foreign interest in Chinese biotech firms.
- The surge in outbound transactions from China is seen as both an opportunity for cash-strapped Chinese biotech firms to secure funding and a strategic move by global pharmaceutical giants to diversify their portfolios with innovative assets at competitive prices. This trend underscores the growing recognition of Chinese innovation on the global stage but also raises questions about valuation and negotiation power for future deals.
Feb.24 2024 12:24 PM
Swiss drug giant focuses on tier two and three cities for future growth, Chief Commercial Officer Marie-France Tschudin tells Caixin
Jan.31 2023 04:36 AM
The aging population and a raft of lifestyle factors mean that more new cancer patients are emerging in China than anywhere else
Dec.11 2019 15:15 PM
Jul.20 2019 05:37 AM
Swiss pharma giant teams up with local firm to produce CAR-T in China
Sep.28 2018 20:41 PM
Bristol-Myers Squibb, Novartis and AstraZeneca could have products fast-tracked by Chinese regulator
Jan.2 2018 19:49 PM
Multinational companies adjust their respective China strategies to adapt to government-mandated lower drug costs
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