Chinese drugmakers have struck a record number of deals this year to sell their assets overseas, sending biotech stocks surging as investors bet the country will become a driving force in global drug discovery.
There have been 93 overseas licensing deals in the first eight months of 2025, worth a combined $85bn, according to Chinese data provider PharmCube — with domestic companies selling the international rights to homegrown drugs. The total value of deals is on track to hit its sixth consecutive annual record, underscoring the speed at which the country’s pharmaceutical sector is internationalising.
Meanwhile, the rapid growth of clinical trials and drugs in early-stage development from companies, including Jiangsu Hengrui and Akeso, indicates that the trend of Chinese biotechs selling their drugs to global pharmaceutical companies is set to continue — a stark reversal from a decade ago.