Innovation drugs in China authorized for foreign trade surpassed one hundred billion US dollars per year, nearly tenfold growth in four years.

Chinese biopharmaceutical companies participating in new drug out-licensing transactions set a new historical record in 2025, surpassing the one trillion dollar mark. According to the latest data from data provider Pharmcube, in 2025, Chinese companies signed out-licensing transactions with a total value of $137.7 billion, nearly 10 times higher than in 2021, with a total of 186 transactions. Major global pharmaceutical giants such as Novartis, AstraZeneca, and GSK signed multiple significant agreements with Chinese companies last year. Tom Basha, head of mergers and acquisitions in the Asia-Pacific region at Bank of America Securities, predicts that the total value of these licensing transactions is expected to double again in the next 18 to 24 months. "Global pharmaceutical companies are highly focused on finding the next generation of innovative drugs in China and are considering various transaction structures," Basha said.